By RTT News,
May 26, 2014, 11:10:00 AM EDT
(RTTNews.com) - Canadian stocks are modestly higher Monday morning with investors treading cautiously, looking for fresh signals. Positive European markets are aiding sentiment to an extent.
However, with the U.S. markets closed for the Memorial Day holiday, trading is somewhat subdued. Sluggish commodity prices are also contributing to lackluster movement.
The benchmark S&P/TSX Composite Index is up 25.09 points or 0.17 percent at 14,733.19, after advancing to 14,764.97 earlier.
On Friday, the index ended up 5.81 points or 0.04 percent at 14,708.10. For the week, the index gained 1.33 percent.
Loblaw Companies Ltd. (L.TO) has announced that it is recalling Joe Fresh children's aqua socks/water shoes of all sizes, colors and styles, on account of a potential slip and fall hazard on wet smooth surfaces. The stock is modestly higher.
Shares of Baytex Energy Corp. (BTE.TO) are up 0.5 percent. The Canadian oil producer has announced that the Federal Court of Australia has made orders approving the scheme of arrangement for the acquisition of Aurora Oil & Gas Ltd. (AEF.TO). Aurora Oil & Gas shares are down marginally.
Black Diamond Group Ltd. (BDI.TO) announced that it has secured a 1,244 person camp contract in the prolific Montney Shale region of northeastern British Columbia.The company expects to generate approximately $34 million of revenue over the term of the three year contract. The stock is advancing 0.5 percent.
WesternOne Inc. (WEQ.TO) announced Monday that its Board of Directors has appointed Peter Blake as its Chief Executive Officer, effective September 1. Blake is currently Chief Executive Officer of Ritchie Bros. Auctioneers, Inc. (RBA,TO). While shares of Ritchie Bros. Aucioneers Inc. are down more than 1 percent, WesternOne Inc. is unchanged.
Shares from diversified metals, healthcare and consumer discretionary sections are edging higher.
Among metals stocks, Capstone Mining Corp. (CS.TO), Teck Resources Limited (TCK.B.TO) and Lundin Mining Corporation (LUN.TO) are up 1.2 to 2 percent, while Sherritt International Corporation (S.TO) is moving up nearly 3 percent.
Healthcare stocks Valeant Pharmaceuticals International, Inc. (VRX.TO) and Extendicare Inc. (EXE.TO) are up 0.8 percent and 1.7 percent, respectively.
Amaya Gaming Group Inc. (AYA.TO) shares are up nearly 7.5 percent. Twin Butte Energy (TBE.TO), Western Forest Products (WEF.TO), Air Canada (AC.B.TO), Capston Infrastructure Corporation (CSE.TO), Bankers Petroleum (BNK.TO) and Chinook Energy Inc. (CKE.TO) are moving up 1 to 4 percent.
In commodities, crude oil futures for July are down $0.21 or 0.2 percent at $104.14 a barrel.
Natural gas is down $0.011 or 0.22 percent at $4.394.
Gold futures for August are up $1.00 or 0.08 percent at $1,292.90 an ounce.
Silver for July is up $0.014 or 0.07 percent at $19.432 an ounce. Meanwhile, copper is up $0.020 or 0.63 percent at $3.187 per pound.
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