Equities in Canada’s largest centre finished July with a flourish, with resource issues leading the main stock index higher.
The TSX stayed in the green 107.27 points to conclude Monday at 20,626.64.
The Canadian dollar moved up four cents to 75.82 cents U.S.
Material stocks were the champions Monday, as shares of Pan American Silver rose $1.36, or 6.5%, to $22.34, after the miner said it plans to sell its 56% stake in the Minera Agua Rica Alumbrera copper project in Argentina to Swiss commodities giant Glencore for $475 million.
Elsewhere, Algoma Steel added 56 cents, or 5.8%, to $10.20.
In gold, Centerra Gold collected 37 cents, or 4.6%, to $8.47, while Equinox Gold gained 27 cents, or 4%, to $6.95.
Techs also fared well, with Sylogist jumping 45 cents, or 6.6%, to $7.27, while Coveo Solutions tallied 68 cents, or 6.1%, to $11.89.
Communications let the side down, with Rogers down 70 cents, or 1.2%, to $57.66, while Quebecor dumped 40 cents, or 1.2%, to $32.26.
In industrials, GFL Environmental lost 64 cents, or 1.4%, to $44.94, while Canadian Pacific gave up $1.79. or 1.6%, to $108.14.
In utilities, Emera Inc. dipped 89 cents, or 1.6%, to $53.41, while Northland Power lost 41 cents, or 1.6%, to $25.43.
ON BAYSTREET
The TSX Venture Exchange took on 2.42 points, to 627.52.
Seven of the 12 TSX subgroups gained ground on the session, led by materials, ahead 1.6%, gold, better by 1.3%, and information technology, improving 1.1%.
The five laggards were weighed most by communications, sliding 0.8%, industrials, losing 0.5%, and utilities, falling 0.2%.
ON WALLSTREET
Stocks rose modestly Monday as Wall Street kicked off a busy earnings week and wrapped up a winning month.
The Dow Jones Industrials barreled 100.24 points higher to close Monday at 35,559.53
The S&P 500 Index gained 6.73 points to 4,588.96.
The NASDAQ index picked up 29.37 points to 14,346.02.
Stocks finished July on a positive note. The S&P 500 jumped 3.1% to notch its fifth consecutive positive month for the first time since its seven-month streak ending August 2021. The tech-heavy NASDAQ Composite gained about 4.1% and registered its fifth straight winning month for the first time since April 2021.
The blue-chip Dow added about 3.4%. Last week, the index posted a 13-day advance that matched its longest streak of gains going back to 1987.
Investors in recent weeks have grown increasingly more hopeful about a soft-landing scenario as economic data shows ongoing strength in the labour market and cooling inflation.
While earnings season is more than halfway through, the chief investment officer is keeping an eye on Thursday’s reports from Amazon and Apple, which could “set the tone” for the rest of the market.
Prices for the 10-year Treasury gave up gains, lowering yields to Friday’s 3.96%. Treasury prices and yields move in opposite directions.
Oil prices gained $1.29 to $81.87 U.S. a barrel. Gold prices brightened $3.90 to $2,003.80 U.S. an ounce.