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Stocks Leap on Upbeat Global Mood

Baystreet - Mon Jan 17, 11:06AM CST
Canada's main stock index rose on Monday, mirroring upbeat global sentiment and aided by gains in energy stocks, although trading volumes stayed low amid a U.S. holiday.

The S&P/TSX Composite climbed 139.9 points to march into lunch hour at 21.497.46

The Canadian dollar picked up 0.17 cents to 79.89 cents U.S.

Energy stocks led the pack, with ARC Resources roaring ahead 34 cents, or 2.5%, to $13.95, while Tamarack Valley triumphed 11 cents, or 2.3%, to $4.81.

Among financials, Canaccord Genuity captured 51 cents, or 3.3%, to $15.84, while Canadian Western Bank acquired $1.04, or 2.6%, to $40.72.

Health-care issues let the side down, however, as Well Health Technologies drooped eight cents, or 1.9%, to $4.12, while Tilray blushed 15 cents, or 1.7%, to $8.45.

On the economic front, Statistics Canada reported foreign investors acquired $30.1 billion of Canadian securities in November, the largest investment since April 2020. At the same time, Canadian investors increased their holdings of foreign securities by $17.5 billion, led by purchases of U.S. shares.

The agency also said manufacturing sales rose 2.6% in November, mainly on higher sales of primary metal, petroleum and coal product, and non-metallic mineral product industries.

Oil prices jumped 25 cents to $84.07 U.S. a barrel.

Gold prices acquired $1.60 to $1,818.10 U.S. an ounce.


The TSX Venture Exchange gained 3.94 points to 906.93.

All but one of the 12 TSX subgroups were higher midday, with energy racing 1.5%, financials richer by 1.1 %, and industrials improving 0.8%.

Only health-care missed the festivities, down 0.3%.


U.S. markets are closed Monday for Martin Luther King Day

Stateside Markets Shuttered for Holiday