Baystreet.ca - Canada's main stock index rose on Monday, tracking energy and materials shares as commodity prices gained, while investors remained cautious ahead of this week's inflation data for clues on the timeline of interest rate cuts.
The S&P/TSX Composite Index moved up 47.39 points to move into Monday afternoon at 22,368.26.The Canadian dollar hiked 0.2 cents at 73.35 cents U.S.
Resource stocks carried the flag for the index early Monday, with Osisko Mining (TSX:OSK) adding 13 cents, or 4.4%, to $3.08, while Filo Mining (TSX:FIL) hiked 68 cents, or 2.7%, to $25.67. Among gold issues, B2Gold (NYSE:BTG) grabbed 14 cents, or 3.7%, to $$3.89, while New Gold (TSX:NGD) gained a dime, or 3.7%, to $2.79.
nvestors braced for Canada's producer prices data for the month of April, due Tuesday, along with country's first-quarter GDP figures, scheduled for Friday.In Japan, the Nikkei 225 tacked on 0.7%, while in Hong Kong, the Hang Seng index gained 1.2%.
Oil prices regained $1.06 to $78.78 U.S. a barrel. Gold prices brightened $20.60 to $2,357.80 U.S. an ounce.
ON BAYSTREET The TSX Venture Exchange inched up 0.63 points to pause for noon hour EDT at 608.58. Seven of the 12 subgroups were positive, led by materials, up 1.1%, while gold prospered 0.7%, and consumer discretionary stocks triumphed 0.6%. The four laggards were weighed most by health-care, down 0.8%, information technology, down 0.3%, and consumer staples slid 0.2%. Financials didn’t move at all.
ON WALLSTREET American markets were closed Monday for Memorial Day