(RTTNews.com) - The Canadian stock market is climbing at the start of the new trading week. The rise in commodity prices has provided a boost to shares of energy and gold stocks Monday morning.
Markets in Europe have been fluctuating between small gains and losses throughout Monday's session. The majority of the markets are currently trading slightly to the upside.
Markets on Wall Street are struggling in early trade Monday. Trade concerns are weighing on the markets amid reports President Donald Trump intends to proceed with plans to impose tariffs on $200 billion worth of Chinese goods as early as today.
The benchmark S&P/TSX Composite Index is up 102.27 points or 0.64 percent at 16,115.76.
On Friday, the index closed up by 11.78 points or 0.07 percent, at 16,013.49. The index scaled an intraday high of 16,032.54 and a low of 15,981.01.
The Capped Materials Index is up 1.15 percent. Franco-Nevada (FNV.TO) is increasing 1.34 percent and Agnico Eagle Mines (AEM.TO) is gaining 1.31 percent. Nutrien (NTR.TO) is rising 2.97 percent.
The Gold Index is increasing 0.72 percent. B2Gold (BTO.TO) is up 0.69 percent and IAMGOLD (IMG.TO) is climbing 3.60 percent. Yamana Gold (YRI.TO) is rising 1.26 percent and Barrick Gold (ABX.TO) is advancing 1.52 percent. Goldcorp (G.TO) is higher by 1.42 percent and Kinross Gold (K.TO) is adding 1.05 percent.
The Capped Telecommunication Services Index is up 0.77 percent. BCE Inc. (BCE.TO) is gaining 0.85 percent and TELUS (T.TO) is rising 0.77 percent. Rogers Communications (RCI-B.TO) is higher by 0.46 percent.
The heavyweight Financial Index is increasing 0.41 percent. Bank of Montreal (BMO.TO) is higher by 0.19 percent and Toronto-Dominion Bank (TD.TO) is adding 0.43 percent. National Bank of Canada (NA.TO) is rising 0.39 percent and Royal Bank of Canada (RY.TO) is advancing 0.36 percent. Bank of Nova Scotia (BNS.TO) is gaining 0.60 percent and Canadian Imperial Bank of Commerce (CM.TO) is up 0.22 percent.
The Energy Index is rising 0.33 percent. Canadian Natural Resources (CNQ.TO) is advancing 0.60 percent and Husky Energy (HSE.TO) is up 0.80 percent. Crescent Point Energy (CPG.TO) is increasing 1.18 percent and Cenovus Energy (CVE.TO) is adding 0.09. Suncor Energy (SU.TO) is gaining 0.65 percent and Imperial Oil (IMO.TO) is higher by 0.74 percent. Enbridge (ENB.TO) is climbing 1.70 percent.
On the economic front, a report from the Canadian Real Estate Association this morning showed that Canadian existing home sales increased by 0.9 percent in August from last month.
Eurozone inflation slowed as estimated in August, final data from Eurostat revealed Monday. Harmonized inflation came in at 2 percent in August versus 2.1 percent in July, which was the highest since December 2012. The rate came in line with the estimate published on August 31.
UK house prices recovered in September, property website Rightmove reportedly said Monday. House prices gained 0.7 percent month-on-month in September after a 2.3 percent decrease.
UK households' perceptions of financial wellbeing remained close to survey-high in September, data from IHS Markit showed Monday. The household finance index held steady at 45.9 in September, which was the second highest score since the survey began in February 2009.
Pointing to a slower pace of growth, the Federal Reserve Bank of New York released a report on Monday showing a much bigger than expected decrease by its index of regional manufacturing activity in the month of September.
The New York Fed said its general business conditions index fell to 19.0 in September from 25.6 in August, although a positive reading continues to indicate growth in regional manufacturing activity. The index had been expected to dip to 23.0.
In commodities, crude oil futures for October delivery are up 0.58 or 0.84 percent at $69.53 a barrel.
Natural gas for October is up 0.049 or 1.77 percent at $2.816 per million btu.
Gold futures for December are up 5.60 or 0.47 percent at $1,206.70 an ounce.
Silver for December is up 0.093 or 0.66 percent at $14.235 an ounce.
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