Equities in Canada’s largest centre started the week positively on Monday, with real-estate and tech issues leading the charge.
The TSX Composite hiked 64.59 points to conclude Monday at 21,871.96.
The Canadian dollar edged up 0.19 cents at 72.97 cents U.S.
Real-estate stocks were in the spotlight, with Boardwalk REIT units better by $2.20, or 3.1%, to $73.96, while Killam Apartment REIT moved ahead 52 cents, or 3.1%, to $17.48.
In consumer discretionary stocks, Restaurant Brands International surged $2.25, or 2.3%, to $100.45, while Linamar grabbed $1.33, or 2.1%, to $65.96.
In techs, HUT 8 Mining moved higher $1.54, or 13.9%, to $12.63, while Bitfarms hiked 18 cents, or 6.8%, to $2.82.
Gold weighed most by stocks with Eldorado Gold down $1.09, or 5.3%, to $19.59, while Lundin Gold dipped $1.27, or 6.3%, to $16.91.
In materials, Fortuna Silver Mines sank 27 cents, or 4.2%, to $6.13, while K92 Mining lost 33 cents, or 4.3%, to $7.34.
In health-care Bausch Health Companies ditched 36 cents, or 3%, to $11.58, while Tilray slid three cents, or 1.3%, to $2.35.
On the economic calendar, Statistics Canada’s industrial product price index increased 0.8% month over month in March and fell 0.5% on a yearly basis, while the raw material price index rose 4.7% from February to March and was up 0.8% year over year in March.
ON BAYSTREET
The TSX Venture Exchange dropped 0.96 points to 566.06.
All but three of the 12 TSX subgroups were positive, with real-estate, information technology and consumer discretionary stocks each sprinting 1.3$.
The three laggards proved to be gold, down 4.3%, materials, off 2.8%, and health-care, worse off by 1%.
ON WALLSTREET
Stocks ripped higher Monday, recovering their footing after a tough week, as tech shares rebounded and tensions in the Middle East dimmed. Traders also looked ahead to the release of major earnings.
The Dow Jones Industrials jumped 254.17 points to close Monday at 38,240.57.
The S&P 500 index moved upward 43.37 points to 5,010.60.
The NASDAQ Composite gained 169.29 points to 15,451.31.
Chipmaker and artificial intelligence favorite Nvidia climbed 4.4%, bouncing from a nearly 14% selloff last week — its worst since September 2022. Arm Holdings also rebounded nearly 7% on Monday.
Companies including Tesla, Meta Platforms, American Airlines, Microsoft and Alphabet are all set to report this week.
U.S. crude prices fell more than 1% after Iran said it will not escalate the conflict with Israel. Investors had been concerned higher oil prices could contribute to inflation, leading the Federal Reserve to hold off on cutting rates.
There is some potentially bigger news in the back part of this this week, with GDP due out on Thursday and a key inflation reading on Friday, when the Commerce Department reports personal consumption expenditures price index data for March. The PCE deflator is the Fed’s preferred inflation gauge.
The Fed meets again April 30-May 1, with officials now in the quiet period ahead of the meeting.
Prices for the 10-year Treasury inched higher, lowering yields to 4.62%. Treasury prices and yields move in opposite directions.
Oil prices dipped 12 cents to $83.02 U.S. a barrel.
Gold prices fell $70.00 to $2,343.80 U.S. an ounce.