Stocks Remain Buoyant by Noon
A rally in oil stocks helped Canada''s main stock index shake-off initial sluggishness to rise on Monday, while investors braced for a slew of earnings updates as well as another big interest rate hike from the U.S. Federal Reserve this week. The TSX climbed 76.26 points to close in on noon EDT Monday at 19,059.18. The Canadian dollar advanced 0.42 cents to 77.84 cents U.S. Rogers Communications ditched seven cents to $60.32. The company on Sunday announced plans to invest $10 billion in artificial intelligence, and more testing and oversight, just weeks after the company reported network issues that caused widespread disruptions across the country. Energy stocks ruled the roost Monday as Vermilion Energy acquired $1.50, or 5.3%, to $29.75, while Tamarack Valley picked up 21 cents, or 5.3%, to $4.20. Utilities also registered higher, as Hydro One gained 40 cents, or 1.2%, to $35.26, while Altagas took on 33 cents, or 1.2%, to $27.84. Gold stocks, however, put a hold on growth as Torex Gold faltered 33 cents, or 3.6%, to $8.74, while Seabridge Gold dropped 61 cents, or 3.8%, to $15.44.
Stocks Remain Buoyant by Noon
A rally in oil stocks helped Canada''s main stock index shake-off initial sluggishness to rise on Monday, while investors braced for a slew of earnings updates as well as another big interest rate hike from the U.S. Federal Reserve this week. The TSX climbed 76.26 points to close in on noon EDT Monday at 19,059.18. The Canadian dollar advanced 0.42 cents to 77.84 cents U.S. Rogers Communications ditched seven cents to $60.32. The company on Sunday announced plans to invest $10 billion in artificial intelligence, and more testing and oversight, just weeks after the company reported network issues that caused widespread disruptions across the country. Energy stocks ruled the roost Monday as Vermilion Energy acquired $1.50, or 5.3%, to $29.75, while Tamarack Valley picked up 21 cents, or 5.3%, to $4.20. Utilities also registered higher, as Hydro One gained 40 cents, or 1.2%, to $35.26, while Altagas took on 33 cents, or 1.2%, to $27.84. Gold stocks, however, put a hold on growth as Torex Gold faltered 33 cents, or 3.6%, to $8.74, while Seabridge Gold dropped 61 cents, or 3.8%, to $15.44.