Canadian Stocks Are Up Slightly At The Start Of The Week - Canadian Commentary

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(RTTNews.com) - The Canadian stock market is trading slightly to the upside early Monday morning. Energy and gold stocks are struggling at the start of the new trading week, as commodity prices dip. However, the heavyweight financial sector is providing some support.

Markets in Europe are trading modestly to the upside Monday. Easing political tensions in Italy and Spain along with some fresh deal-making news has put investors in a positive mood.

Markets on Wall Street are up slightly at the start of the new trading week. Early gains have begun to erode following the release of the weaker than expected factory orders report.

The benchmark S&P/TSX Composite Index is up 32.81 points or 0.20 percent at 16,076.35.

On Friday, the index closed down by 17.96 points or 0.11 percent, at 16,043.54. The index scaled an intraday high of 16,095.22 and a low of 16,040.49.

The Capped Information Technology Index is gaining 0.60 percent. Constellation Software (CSU.TO) is climbing 0.40 percent and Descartes Systems Group (DSG.TO) is adding 0.38 percent. BlackBerry (BB.TO) is increasing 0.66 percent and Sierra Wireless (SW.TO) is up 0.14 percent.

The heavyweight Financial Index is increasing 0.42 percent. Toronto-Dominion Bank (TD.TO) is gaining 0.25 percent and Royal Bank of Canada (RY.TO) is climbing 1.03 percent. Canadian Imperial Bank of Commerce (CM.TO) is rising 0.27 percent and National Bank of Canada (NA.TO) is advancing 0.62 percent. Bank of Montreal (BMO.TO) is higher by 0.42 percent and Bank of Nova Scotia (BNS.TO) is increasing 0.21 percent.

The Capped Healthcare Index is higher by 0.38 percent. Extendicare (EXE.TO) is rising 0.40 percent.

The Energy Index is falling 0.61 percent. Crude oil prices are lower Monday morning amid a lack of clarity regarding the outcome of the Gulf states producers over the weekend.

Cenovus Energy (CVE.TO) is weakening by 2.38 percent and Crescent Point Energy (CPG.TO) is losing 1.37 percent. Canadian Natural Resources (CNQ.TO) is falling 1.21 percent and Encana (ECA.TO) is down 1 percent.

The Gold Index is decreasing 0.29 percent. Gold prices are nearly flat at the start of the new trading week.

Goldcorp (G.TO) is down 1.15 and Eldorado Gold (ELD.TO) is lower by 0.35 percent. B2Gold (BTO.TO) is weakening by 0.85 percent and Barrick Gold (ABX.TO) is falling 0.65 percent. IAMGOLD (IMG.TO) is surrendering 0.13 percent and Yamana Gold (YRI.TO) is losing 0.27 percent.

On the economic front, Eurozone investor sentiment deteriorated sharply in June largely reflecting political uncertainties in Italy, survey data from think tank Sentix showed Monday. The investor confidence index slid to 9.3 in June from 19.2 in May. This was the lowest score since October 2016 and below the expected level of 19.0.

Eurozone producer prices climbed at a slightly slower pace in April, Eurostat reported Monday. Producer price inflation came in at 2 percent in April versus 2.1 percent in March. Prices were forecast to increase 2.4 percent.

UK construction activity logged a moderate growth in May with the pace of expansion matching that seen in April, survey data from IHS Markit and the Chartered Institute of Procurement & Supply showed Monday.

The construction Purchasing Managers' Index held steady at 52.5 in May. A score above 50 indicates expansion. Economists had forecast the index to drop to 51.8.

In commodities, crude oil futures for July delivery are down 0.34 or 0.52 percent at $65.47 a barrel.

Natural gas for July is down 0.025 or 0.84 percent at $2.937 per million btu.

Gold futures for August are up 0.10 or 0.01 percent at $1,299.40 an ounce.

Silver for July is up 0.049 or 0.30 percent at $16.49 an ounce.

Read the original article on RTTNews (http://www.rttnews.com/2901415/canadian-stocks-are-up-slightly-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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