Canada stocks closed on Monday up 26.7 points at 14,284.4, but
nearly 80 points below a day high of 14,357 hit early afternoon,
buoyed by safe haven buying of resources stocks amid ongoing
tensions between the Ukraine and Russia.
Brent crude oil traded near one month highs. Gold hit three week
The Metals & Mining sector gained more than 2% while Energy
rose around 0.3%. More sectors were down than up, led by Utilities
down near 0.9%.
Boosting sentiment for North American stocks, U.S. retail sales
recorded their largest gain in 1.5 years in March, giving hope that
the economy in that country - which is Canada's largest trading
partner - is improving.
According to BNN TV, TD Bank said today the TSX could climb an
additional 300-plus points - to 14,650 - in the next year or so,
largely thanks to the Energy group. BNN cited TD as saying
investors should be overweight on Energy.
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