Canadian Stocks Are Climbing On Broad Strength - Canadian Commentary

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(RTTNews.com) - The Canadian stock market is rising at the start of the new trading week. The Canadian sectors are green across the board this morning, with the largest gains coming from healthcare and energy names.

After fluctuating between small gains and losses this morning, most of the European markets have entered negative territory. Traders are keeping a close eye on the political situation in Italy. Italy is now headed towards a coalition government between the "Five Star Movement" and the (formerly "Northern") "League" after two months of paralysis since the March 4 inconclusive general election.

Markets on Wall Street are rising at the start of the new trading week. Investors are encouraged by easing trade tensions ahead of a second round of trade talks between the U.S. and China this week.

The benchmark S&P/TSX Composite Index is up 115.07 points or 0.72 percent at 16,098.39.

On Friday, the index closed up 23.82 points or 0.15 percent, at 15,983.32. The index scaled an intraday high of 16,030.43 and a low of 15,975.92.

The Capped Healthcare Index is higher by 2.84 percent. Concordia International (CXR.TO) is gaining 5.33 percent and Valeant Pharmaceuticals International (VRX.TO) is rising 1.58 percent. ProMetic Life Sciences (PLI.TO) is adding 1.43 percent.

The Energy Index is rising 1.49 percent. Crude oil futures up slightly Monday morning as OPEC raised its forecast for non-OPEC production due to the U.S. shale oil boom. The cartel also lifted its demand forecast but warned about possible negative implications from U.S. trade squabbles.

OPEC expects the world to consume 98.85 million barrels a day, up 1.65 million barrels a day from last year.

Encana (ECA.TO) is higher by 0.53 percent and Crescent Point Energy (CPG.TO) is advancing 3.53 percent. Cenovus Energy (CVE.TO) is rising 1.07 percent Canadian Natural Resources (CNQ.TO) is increasing 2.02 percent and Suncor Energy (SU.TO) is adding 1.96 percent. Husky Energy (HSE.TO) is climbing 2.35 percent and Imperial Oil (IMO.TO) is up 1.18 percent. Enbridge (ENB.TO) is gaining 0.17 percent

The Capped Information Technology Index is gaining 0.87 percent. BlackBerry (BB.TO) is increasing 1.15 percent and Sierra Wireless (SW.TO) is rising 1.95 percent. Constellation Software (CSU.TO) is adding 0.63 percent.

The Capped Materials Index is up 0.64 percent. Agnico Eagle Mines (AEM.TO) is rising 0.44 percent and Nutrien (NTR.TO) is gaining 2.11 percent.

The Capped Telecommunication Services Index is up 0.55 percent. TELUS (T.TO) is gaining 0.55 percent and Rogers Communications (RCI-B.TO) is rising 0.62 percent. BCE (BCE.TO) is climbing 0.50 percent

The heavyweight Financial Index is increasing 0.63 percent. Bank of Montreal (BMO.TO) is gaining 0.36 percent and Royal Bank of Canada (RY.TO) is advancing 0.50 percent. Toronto-Dominion Bank (TD.TO) is rising 0.67 percent and Canadian Imperial Bank of Commerce (CM.TO) is up 0.81 percent. Bank of Nova Scotia (BNS.TO) is climbing 0.60 percent.

Aurora Cannabis Inc. (ACB.TO) is rising 1.36 percent after it has acquired smaller rival MedReleaf Corp. (LEAF.TO) for C$3.2 billion. Aurora recently acquired CanniMed and is poised to be the world's largest marijuana company.

Brookfield Asset Management (BAM.TO) made a $3.3 billion approach for Australian hospital group Healthscope, according to reports. The stock is gaining 1 percent.

WestJet (WJA.TO) is promising full refunds on flights cancelled by an imminent pilot strike. Shares are advancing 0.90 percent.

In commodities, crude oil futures for June delivery are up 0.32 or 0.45 percent at $71.02 a barrel.

Natural gas for June is up 0.02 or 0.71 percent at $2.83 per million btu.

Gold futures for June are down 0.60 or 0.05 percent at $1,320.10 an ounce.

Silver for July is down 0.082 or 0.49 percent at $16.67 an ounce.

Read the original article on RTTNews (http://www.rttnews.com/2894798/canadian-stocks-are-climbing-on-broad-strength-canadian-commentary.aspx)

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This article appears in: Stocks , Politics , Oil
Referenced Symbols: AEM ,

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