Stocks in Canada’s largest market built on gains throughout the day, particularly in resource stocks, to counteract losses in consumer staples.
The World Health Organization reported a record increase in global cases of virus infections on Sunday, raising concerns about a slower-than-expected economic recovery.
The S&P/TSX Composite Index gained 42.7 points to meet the closing bell Monday at 15,516.90.
The Canadian dollar picked up 0.34 cents at 73.89 cents U.S.
Resource stocks were kings of the index Monday, as Eldorado Gold triumphed 60 cents, or 5.1%, to $12.31, while Alacer Gold chugged ahead 48 cents, to 5.8%, to $8.70.
Canfor climbed 67 cents, or 6.1%, to $11.73, while Interfor added 87 cents, or 8.4%, to $11.26.
Among tech issues, Enghouse Systems jumped $1.51, or 2.2%, to $71.41, while Lightspeed POS garnered $1.13, or 3.4%, to $34.60.
Consumer staples faltered, though, as Maple Leaf Foods dropped $1.72, or 4.6%, to $29.20, while Alimentation Couche-Tard fell $1.31, or 3%, to $42.45.
Communications went down, as Telus slid 28 cents, or 1.2%, to $23.44, while BCE dipped 68 cents, or 1.2%, to $57.28.
Health-care issues also suffered losses, as HEXO ditched two cents, or 2%, to one dollar, while Bausch Health Companies let go of 27 cents, or 1%, to $26.59.
ON BAYSTREET
The TSX Venture Exchange heightened 10.24 points, or 1.8%, to 577.44.
Seven of the 12 subgroups were lower on the session, with consumer staples fading 1.6%, communications down 1%, and health-care off 0.5%.
The five gainers were led by gold, up 3.1%, materials, ahead 2.6%, and information technology jumping 1.1%.
ON WALLSTREET
Stocks rose on Monday, building on solid gains from last week, as shares of major tech companies led the way higher on Wall Street.
The Dow Jones Industrials grabbed 153.5 points to break for lunch Monday at 26,024.96
The S&P 500 gained 20.12 points to 3,117.86.
The NASDAQ took on 110.35 points, or 1.1%, to 10,056.47, for its seventh consecutive gain, and yet another record high.
Apple shares jumped more than 2% and hit a record high after the company made a slew of announcement at its annual WorldWide Developers Conference. The tech giant unveiled the latest version of iOS, its mobile operating system. Apple also said its new Mac computers will no longer use Intel chips.
Microsoft climbed more than 2% to lead the Dow higher. Amazon advanced 1.5%. Netflix gained 2.6%. Facebook eked out a small gain.
Retail names, which are directly linked to the economic reopening, were also among the biggest gainers. Shares of Gap were higher by 8.3%, boosted by an upgrade at Wells Fargo, citing the retailer’s “under-appreciated value and optionality.” Walmart gained more than 1% after an upgrade by UBS.
Shares of American Airlines — which are also linked to the recovery — were lower by 6.8% after the company said it was seeking new financing. United fell 0.8%. Reopening trades such as Casino and hotel stocks were also under pressure with Wynn Resorts collapsed 4%, and MGM Resorts was down 2.4%.
The U.S. reported more than 30,000 additional coronavirus cases on Friday, the highest number of confirmed one-day infections since May 1, data compiled by Johns Hopkins University showed. Nevada, Florida, California and Arizona have also reported record-high single-day infections.
The recent coronavirus uptick in some states led Apple to reclose some of its stores. Meanwhile, a trade group said cruise lines voluntarily suspended all trips until Sept. 15.
Prices for the 10-Year Treasury lost ground, boosting yields to 0.70% from Friday’s 0.69%. Treasury prices and yields move in opposite directions.
Oil prices acquired 85 cents to $40.60 U.S. a barrel.
Gold prices improved $12.90 to $1,765.90 U.S. an ounce.