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Mini Streak Continues for TSX

Jan 07, 2019 ( via COMTEX) --

Canada's main stock index added Monday to two previous weeks of gains, as advances in health-care and tech stocks overcame weakness in the gold patch.

The S&P/TSX Composite Index gained 77.51 points to close Monday at 14,504.13

The Canadian dollar screamed higher 0.41 cents at 75.21 U.S.

Tech issues proved the big stars Monday, as BlackBerry obtained 21 cents, or 2.2%, to $9.88, while Shopify climbed $6.68, or 3.6%, to $191.61.

Health-care companies also scored, with Aphria rocketing 50 cents, or 6.2%, to $8.57, while Bausch Health Companies plowed forward $1.36, or 4.8%, to $29.85.

In the consumer discretionary category, Canada Goose took flight $2.40, or 4%, to $62.28, while Canadian Tire climbed $1.94, or 1.4%, to $144.03.

Alamos Gold was among a horde of gold concerns pointed downward, losing seven cents, or 1.4%, while Barrick Gold backpedaled 35 cents, or 2%, to $17.20.

Among materials, Agnico Eagle Mines fell $1.25, or 2.3%, to $52.98, while First Quantum Minerals tailed off 33 cents, or 3.2%, to $9.99.

Peyto Exploration & Development Corp fell 29 cents, or 3.7%, to $7.53 after brokerage RBC downgraded its stocks expecting natural gas pricing to fall. Elsewhere, Imperial Oil darted lower 19 cents to $34.84.

On the economic front, Western University's IVEY School of Business said its Purchasing Managers Index registered 59.7 for December, compared to 57.2 the month before and 60.4 in December 2017.


The TSX Venture Exchange gained 3.19 points to 590.63

Eight of the 12 TSX subgroups were higher at noon, health-care leading the pack, up 2.4%, while information technology gained 1.7%, and consumer discretionary stocks bettered themselves 1.6%.

The four laggards were weighed by gold, down 1.6%, materials, off 0.7%, and financials, lower by 0.4%.


Stocks rose in choppy trading on Monday as investors pored through the latest U.S.-China trade developments and equities added to a massive rally in the prior trading session.

The Dow Jones Industrial Average jumped 98.19 points to 23,531.35

The S&P 500 strengthened 17.75 points to 2,549.69, led by a 2.4% gain in the consumer discretionary sector. The energy sector jumped 1.3% as Cabot Oil and Hess both rose more than 4%.

The NASDAQ Composite gained 84.61 points, or 1.3%, to 6,823.47, posting its seventh positive session in eight, as Amazon shares rose more than 3%

Pivotal Research Group initiated the company with a buy rating, the research firm saying Amazon's opportunities this year are "mostly unconstrained," adding the stock could surge as much as 20%

The Chinese foreign ministry said Monday that China and the U.S. have expressed an eagerness to work together. The ministry also added China stands ready to resolve trade disputes with the U.S. on an equal footing.

Prices for the benchmark for the 10-year U.S. Treasury faded, raising yields to 2.69% from Friday's 2.66%. Treasury prices and yields move in opposite directions.

Oil prices gained $70 cents to $48.66 U.S. a barrel.

Gold prices gained $4.20 at $1,290.00 U.S. an ounce.

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