Canada’s benchmark stock index gained ground Monday morning as all subgroups opened higher.
At 9:37 a.m. EDT the S&P/TSX Composite Index was up 101.99 points to 19,722.12. Monday’s increase comes after the TSX gained 43.09 points, or 0.22 per cent, Friday.
The TSX materials subgroup was the most influential upside contributor in early trading, adding just over 50 points to the index. Nutrien Ltd., Barrick Gold Corp. and Brookfield Asset Management Inc. were among the stocks adding the most points to the index. that beat analysts' estimates. “Barrick is probably faring pretty well relative to some of the other gold miners. I think this is a tough environment for gold equities in this type of macroeconomic backdrop,” John Goldsmith, a portfolio manager at Montrusco Bolton, said in an interview on BNN Bloomberg Monday morning.
Markets in New York were higher Monday morning. The S&P 500 was up 0.81 per cent, while the Dow Jones Industrial Average was 0.79 per cent higher and the Nasdaq was up 1.29 per cent.The benchmark West Texas Intermediate crude price was down 0.26 per cent to US$88.78 per barrel.
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