TSX Claims Triple-Digit Gains
Stocks moved higher Monday, in light trading, with their American cousins taking the day off.
The S&P/TSX came off its highs of the day, but remained positive 167.5 points to close Monday at 19,028.86.
The Canadian dollar gained 0.15 cents to 77.74 cents U.S.
Markets were closed Friday for Canada Day.
Energy did most of the rumbling, with Vermilion Energy skyrocketing $2.08, or 8.5%, to $26.58, while Advantage Oil & Gas claimed 67 cents, or 8.4%, to $8.67.
In gold issues, Alamos Gold tacked on 57 cents, or 6.3%, to $9.60, while New Gold gained nine cents, or 6.6%, to $1.46.
Among materials, Endeavour Silver took on 14 cents, or 3.5%, to $4.18, while K92 Mining acquired 35 cents, or 4.5%, to $8.12.
Tech firms suffered a black eye, albeit a small one, as Sierra Wireless declined 69 cents, or 2.3%, to $29.46, while Quarterhill dumped four cents, or 2.2%, to $1.82.
Money markets see about an 80% chance of a 75-basis point interest rate increase by the Bank of Canada in July after surprisingly high inflation in May showed consumer prices at a
With the price of everyday essentials surging, the risk of inflation becoming entrenched is growing.
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On matters macroeconomic, Markit Canada revealed its Purchasing Managers Index hit a 17-month low of 54.6 in June, down from 56.8 in May.
Oil prices gained $2.23 to $110.66 U.S. a barrel.
Gold prices were positive $6.80 to $1,807.00 U.S. an ounce.
The TSX Venture Exchange advanced 5.97 points or 1%, to 623.23.
All but one of the 12 TSX subgroups stayed in the green Monday, with energy surging 2.6%, gold shining 2.2% brighter, and materials ahead 1.9%.
Information technology declined 0.02%.
American markets are shuttered for the 4th of July.