(RTTNews.com) - The Canadian stock market is inching higher in early trade Monday. Healthcare stocks are leading the way higher at the start of the new trading week, while information technology and energy names are also providing support. However, gold prices are struggling this morning due to falling gold prices.
Markets in Europe are little changed in lackluster trade Monday.
Markets on Wall Street are up slightly at the start of the new trading week. Traders are looking ahead to a number of important economic reports, including the U.S. jobs report on Friday.
The benchmark S&P/TSX Composite Index is up 6.05 points or 0.04 percent at 15,674.98.
On Friday, the index closed up 31.34 points or 0.20 percent, at 15,668.93. The index scaled an intraday high of 15,682.29 and a low of 15,631.85.
The Capped Healthcare Index is higher by 2.82 percent. Valeant Pharmaceuticals International (VRX.TO) is climbing 2.56 percent.
ProMetic Life Sciences (PLI.TO) is gaining 2.60 percent after its Phase 3 trial of IVIG met its primary and secondary endpoints.
The Capped Information Technology Index is gaining 1.32 percent. Constellation Software (CSU.TO) is climbing 1.16 percent and Descartes Systems Group (DSG.TO) is adding 0.53 percent. BlackBerry (BB.TO) is increasing 0.59 percent.
The Energy Index is rising 0.26 percent. Crude oil prices are nearly flat Monday morning, holding around $68 a barrel.
Encana (ECA.TO) is higher by 0.06 percent and Canadian Natural Resources (CNQ.TO) is gaining 0.09 percent. Suncor Energy (SU.TO) is up 0.55 percent and Cenovus Energy (CVE.TO) is climbing 0.78 percent. Husky Energy (HSE.TO) is rising 1.08 percent and Imperial Oil (IMO.TO) is advancing 0.97 percent
The Capped Industrials Index is up 0.18 percent. Canadian Pacific Railway (CP.TO) is increasing 0.10 percent and Finning International (FTT.TO) is adding 0.52 percent. Bombardier (BBD-B.TO) is gaining 0.50 percent.
Air Canada (AC.TO) is increasing 1.92 percent after reporting first quarter results.
The Capped Telecommunication Services Index is up 0.11 percent. TELUS (T.TO) is gaining 0.72 percent.
The Gold Index is decreasing 1.21 percent. Gold prices are falling Monday morning, after gaining ground at the end of the prior trading week.
Goldcorp Inc. (G.TO) is falling 1.34 percent and Eldorado Gold Corp. (ELD.TO) is dropping 1.22 percent. Kinross Gold (K.TO) is weakening by 0.59 percent and B2Gold (BTO.TO) is losing 1.35 percent. Yamana Gold (YRI.TO) is declining 2.31 percent and IAMGOLD (IMG.TO) is down 1.69 percent. Barrick Gold (ABX.TO) is surrendering 1.75 percent.
The Capped Materials Index is down 0.46 percent. Franco-Nevada (FNV.TO) is falling 0.45 percent and Agnico Eagle Mines (AEM.TO) is losing 2.43 percent. Nutrien (NTR.TO) is declining 0.13 percent.
On the economic front, a report from Statistics Canada this morning showed that the Canadian industrial product price index climbed by 0.8 percent in March. Economists had expected an increase of 0.7 percent.
China's manufacturing sector grew at a slower pace in April, survey data from the National Bureau of Statistics showed Monday. The official manufacturing Purchasing Managers' Index fell slightly to 51.4 in April from 51.5 in March. Nonetheless, the score remained above 50, indicating expansion in the sector.
Germany's retail sales declined unexpectedly in March, figures from Destatis revealed Monday.
Retail trade turnover dropped by real 0.6 percent month-on-month in March, bigger than the revised 0.2 percent decrease in February. This was the fourth consecutive decrease in sales. Sales were expected to grow 0.8 percent in March.
Germany's consumer price inflation remained unchanged in April, defying expectations for a modest slowing, while the harmonized figure eased. The consumer price index rose 1.6 percent year-on-year, same as in March, preliminary data from Destatis showed Monday. Economists had expected the rate to drop to 1.5 percent.
Personal income in the U.S. increased by slightly less than expected in the month of March, according to a report released by the Commerce Department on Monday.
The report said personal income rose by 0.3 percent in March, matching the downwardly revised increase in February. Economists had expected income to climb by 0.4 percent.
Meanwhile, the Commerce Department said personal spending climbed by 0.4 percent in March after coming in unchanged in the previous month. The increase in spending matched economist estimates.
In commodities, crude oil futures for May delivery are up 0.11 or 0.16 percent at $68.21 a barrel.
Natural gas for May is down 0.035 or 1.26 percent at $2.736 per million btu.
Gold futures for June are down 7.10 or 0.54 percent at $1,316.30 an ounce.
Silver for May is down 0.112 or 0.68 percent at $16.385 an ounce.
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