Canadian Stocks Are Rising At The Start Of The Week - Canadian Commentary

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(RTTNews.com) - The Canadian stock market is climbing in early trade Monday, logging a triple digit increase at the start of the new trading week. Energy, gold and healthcare stocks are leading the way higher this morning. Commodity prices are up slightly this morning, but the real catalyst appears to be potential progress between the U.S. and Mexico over trade.

Markets on Wall Street are rising in early trade Monday. Traders are optimistic about talks between the U.S. and Mexico seeking to resolve their differences over NAFTA. Mexican Economy Minister Ildefonso Guajardo told reporters Sunday the U.S. and Mexico are close to resolving key differences on trade.

Markets in Europe are trading modestly higher on Monday, with the exception of the FTSE 100 of the UK, which is closed for a holiday.

The benchmark S&P/TSX Composite Index is up 104.60 points or 0.64 percent at 16,460.65.

On Friday, the index closed up by 29.26 points or 0.18 percent, at 16,356.05. The index scaled an intraday high of 16,400.90 and a low of 16,331.51.

The Capped Healthcare Index is higher by 4.11 percent. Concordia International (CXR.TO) is rising 2.22 percent.

The Capped Materials Index is up 1.51 percent. Agnico Eagle Mines (AEM.TO) is rising 0.93 percent and Franco-Nevada (FNV.TO) is adding 0.28 percent. Nutrien (NTR.TO) is climbing 2.50 percent.

The Gold Index is increasing 0.89 percent. IAMGOLD (IMG.TO) is gaining 1.27 percent and Yamana Gold (YRI.TO) is advancing 1.64 percent. Goldcorp (G.TO) is climbing 1.10 percent and Kinross Gold (K.TO) is rising 3.10 percent. Eldorado Gold (ELD.TO) is up 3.03 percent and Barrick Gold (ABX.TO) is adding 0.88 percent. B2Gold (BTO.TO) is higher by 1.31 percent.

The Energy Index is rising 0.88 percent. Crescent Point Energy (CPG.TO) is advancing 1.65 percent and Imperial Oil (IMO.TO) is adding 0.14 percent. Cenovus Energy (CVE.TO) is increasing 1.51 percent and Encana (ECA.TO) is climbing 0.41 percent. Canadian Natural Resources (CNQ.TO) is up 1.17 percent and Husky Energy (HSE.TO) is gaining 1.21 percent. Suncor Energy (SU.TO) is higher by 0.86 percent.

The Capped Industrials Index is up 0.58 percent. Canadian Pacific Railway (CP.TO) is advancing 1.08 percent and Canadian National Railway (CNR.TO) is rising 1.00 percent. Air Canada (AC.TO) is gaining 0.78 percent and Finning International (FTT.TO) is higher by 0.72 percent.

The heavyweight Financial Index is increasing 0.43 percent. Bank of Nova Scotia (BNS.TO) is advancing 0.68 percent and Toronto-Dominion Bank (TD.TO) is gaining 0.34 percent. Royal Bank of Canada (RY.TO) is climbing 0.34 percent and National Bank of Canada (NA.TO) is rising 0.34 percent. Bank of Montreal (BMO.TO) is higher by 0.32 percent and Canadian Imperial Bank of Commerce (CM.TO) is up 0.01 percent.

The Board of Directors of BSM Technologies Inc. (GPS.TO) today announced the appointment of Mr. Louis De Jong as the company's President and CEO. Jong has more than 20 years of experience in the technology and finance industries. Shares are rising 2.34 percent.

NexGen Energy Ltd. (NXE.TO) announced that Ms Sybil Veenman and Ms Karri Howlett have been appointed to the Company's Board of Directors. The stock is climbing 2.86 percent.

On the economic front, Germany's business confidence strengthened to a six-month high in August, weathering geopolitical risks and trade tensions.

The business sentiment indicator rose more-than-expected to 103.8 in August from 101.7 in July, survey results from the Mannheim-based Ifo Institute showed Monday. This was the highest score since February and well above the expected score of 101.8.

In commodities, crude oil futures for September delivery are up 0.16 or 0.23 percent at $68.88 a barrel.

Natural gas for September is down 0.025 or 0.86 percent at $2.892 per million btu.

Gold futures for December are up 2.79 or 0.23 percent at $1,216.10 an ounce.

Silver for September is up 0.046 or 0.31 percent at $14.84 an ounce.

Read the original article on RTTNews (http://www.rttnews.com/2929704/canadian-stocks-are-rising-at-the-start-of-the-week-canadian-commentary.aspx)

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This article appears in: Stocks , World Markets , Politics , Oil
Referenced Symbols: ABX ,

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