TSX Stays Strong by Noon Hour

Markets in Canada’s largest centre rose on Monday as Barrick Gold led gains among miners after it reported a quarterly profit that beat analysts' estimates.

The TSX remained buoyant 91.08 points to break for noon hour at 19,711.21.

The Canadian dollar took on 0.57 cents to 77.82 cents U.S.

Barrick posted higher copper output for the quarter. Meanwhile, inflation drove the miner's cost of production up. Barrick shares gained 88 cents, or 4.4%, to $21.05.

Cenovus Energy rose 54 cents, or 2.5%, to $21.80, after the company said it will buy the remaining 50% stake it does not already own in Ohio-based BP-Husky Toledo Refinery for $300 million from British energy firm BP PLC.

Nutrien edged 57 cents higher to $108.96, after the world's largest fertilizer producer named Ken Seitz as chief executive.


The TSX Venture Exchange vaulted 4.97 points to 669.14.

All but one of the 12 TSX subgroups were higher in the first hour, with health-care soaring 3.2%, materials up 1.6%, and gold better by 1.5%.

Energy proved the lone holdout, down 0.5%.


Stocks were little changed on Monday, following the S&P 500's third straight weekly gain, as investors shifted focus to a key inflation report this week and struggles for the semiconductor industry.


The Dow Jones Industrials actually fell into the red 1.56 points to 32,801.91

The S&P 500 slipped 7.35 points to 4,137.84.

The NASDAQ Composite dropped 19.19 points to 12,638.36.

Nvidia announcing weak revenue for the second quarter, putting pressure on semiconductor stocks.

Some clean energy related shares gained after the Senate passed a $430-billion climate bill, the Inflation Reduction Act, which is expected to be passed by the House later this week.

Treasury prices strengthened, lowering yields to 2.77% from Friday’s 2.82%. Treasury prices and yields move in opposite directions.

Oil prices gained $1.33 to $90.34 U.S. a barrel.

Gold prices hiked $12.50 to $1,803.70 U.S. an ounce.