Equities Keep Streak Alive

By Baystreet Stock Market Update

Gold Shines, Communications Black Out

Canada’s main stock index found its way (narrowly) in the green by the end of Monday’s session – its 12th straight positive showing – as strength in gold and other resource stocks overrode backward progress in communications issues.

The S&P/TSX Composite Index regrouped 50.33 points Monday to 15,354.16. Since the start of 2019, the index has gained more than a thousand points.

The Canadian dollar skidded 0.11 cents to 75.2 centsU.S.

In the gold sector, Barrick Gold climbed 25 cents, or 1.6%, to $15.89, while B2 Gold gained 10 cents, or 2.8%, to $3.63.

In the materials sector, Agnico Eagle Mines acquired 26 cents to $52.00, while First Quantum Minerals progressed 15 cents, or 1.2%, to $12.85

Financials were also painted green, as Royal Bank tacked on 98 cents, or nearly 1%, to $99.62, while National Bank improved 10 cents to $60.84.

Communications stocks were not feeling the love, though, as Shaw Communications slid 25 cents to $26.68, while BCE faded 16 cents to $55.67.

Energy waned, as Imperial Oil lost 50 cents, or 1.3%, to $36.71, while Crescent Point Energy dropped 23 cents, or 4.9%, to $4.43.

Tech stocks gave back, as Constellation Software lost $22.98, or 2.4%, to $918.00

Oil prices regained $1.73 to $53.80U.S. a barrel.

Gold prices let go of $6.39 to $1,276.00U.S. an ounce.

ON BAYSTREET

The TSX Venture Exchange grew 2.57 points to 598.08

Seven of the 12 TSX subgroups jumped into positive territory by day’s end, with gold soaring 0.5%, while materials and financials each improved 0.3%.

The five laggards were weighed most by communications, waning 0.7%, energy, down 0.4%, and information technology, clicking lower by 0.3%

ON WALLSTREET

Markets in the States were closed Monday for Martin Luther King Day.

This article provided by NewsEdge.