Stocks in Canada’s largest centre had the stage to themselves Monday, and reveled in them, posting healthy gains in the first hour and as oil prices steadied.
The S&P/TSX jumped 101.93 points to begin Monday and a new week at 18,963.29.
The Canadian dollar gained 0.14 cents to 77.73 cents U.S.
Markets were closed Friday for Canada Day.
Australia’s Link Administration rejected Canadian software firm Dye & Durham’s lowered takeover bid but agreed to continue to engage with it on hopes of securing a better offer.
DND shares dipped nine cents to $21.66.
Toronto-Dominion Bank is exploring a takeover deal for U.S. brokerage Cowen. TD shares faltered 28 cents to $84.13.
Cormark Securities cut the target price on Tecsys to $47.50 from $50.00. Tecsys shares lost 49 cents, or 1.5%, to $33.00.
CIBC cut the target price on Canopy Growth to $3.00 from $5.00. Canopy Growth shares handed over two cents to $3.64.
On matters macroeconomic, Markit Canada revealed its Purchasing Managers Index hit a 17-month low of 54.6 in June, down from 56.8 in May.
Oil prices gained $1.34 to $109.77 U.S. a barrel.
Gold prices captured $7.80 to $1,809.30 U.S. an ounce.
ON BAYSTREET
The TSX Venture Exchange retreated 0.16 points to 617.10.
All 12 TSX subgroups began the day in the green, with energy surging 3.1%, gold shining 1.4% brighter, and utilities ahead 1%.
ON WALLSTREET
U.S. markets were closed for the 4th of July.