Canadian stocks stocks are higher Monday as investors set aside
a rise in Spanish bond yields and instead followed cues from rising
European markets. Housing sales data also has been mildly
supportive although any gains have been capped by small declines in
crude oil, gold and other metals prices.
Here's where the major Canadian markets stand this morning:
- S&P/TSX Composite index is up 14.64 (+0.12%) to
- S&P/TSX Venture Composite Index is down 7.96 (-0.55%) to
The average price of a Canadian home fell in March for the first
time since January although the number of sales was the highest in
nearly two years, according to the Canadian Real Association.
CREA said Monday the national average home resale price in March
was $369,677, down from just under $373,000 in February and down
from $371,591 from a year ago. March sales rose 2.5% in March from
the prior month, boosting the total number of sales so far this
year to 108,373.
In company news, U.S. listed share of Ivanhoe Mines (IVN,
IVN.TO) are down more than 6% after Mongolian officials suspended
mining licenses owned by a IVN joint venture. The move is believed
to be related to the proposed sale of IVN's stake to Aluminum
Corporation of China Ltd, according to a statement by the
Also today, Enbridge Inc. (ENB, ENB.TO) and Enterprise Products
Partners LP (
) told regulators they plan to start shipments on the Seaway
pipeline from Cushing, Oklahoma, to the Gulf Coast May 17.
First Majestic Silver (
) is down about 1.5% today and the miner saying it has started
commercial production at its La Parilla mine in Mexico. It also
said that total production at its three mines in Mexico during Q1
reached 2.007 million equivalent ounces of silver. Silver
production slipped 7% from Q4 but rose 3% year over year to 1.82
million ounces. It also produced 3.17 million pounds of lead, 1,32
pounds of zinc and 611 ounces of gold.