Spiking closer to the 1.1800 figure earlier in the session, the Loonie fought back as manufacturing data was weaker in the world’s largest economy and oil prices remained lofty on Friday’s close. For the session, the May delivery contract for crude oil rose 17 cents to $66.80 a barrel. Looking ahead, with no economic data on the near term horizon, figures run thin with building permits and manufacturing data through the Ivey survey not arriving till week’s end. As a result, further economic data in the U.S. looks to place event risk on the underlying till the arrival of such notices.
Stocks surged on Monday as resource stocks led the 150 point charge on the benchmark index. On the day, the TSX S&P composite rose 164.75 points to 12,275.36 as the TSX Venture Exchange advanced 39.22 points to 2,952.20. Notably, adding to the bull run, shares of newly traded and restructured Stelco Inc. rose 19 percent on the trading price of $15 a share. The issue price was comparably lower at $5.50 prior to the debut. Separately, the TSX energy sector was higher by 2 percent with bellwethers like Suncor Energy Inc. gaining $3.17 to $92.70. Comparatively, the gold sector was higher by 2.9 percent as bullion surged past 25 year highs to set records on the day. Rising on the NYMEX, gold contacts for April delivery rose $8.70 to $590.50 an ounce. Subsequently, shares of Bema Gold Corp. climbed 18 cents to $5.34 a share.
Bonds were lower on the specter of higher rates as the world’s largest economy, the U.S., is expected to raise benchmark lending rates once again. The benchmark note was lower by 32 cents to 101.52 as the yield rose 4 basis points at 4.29 percent.
Stocks surged on Monday as resource stocks led the 150 point charge on the benchmark index. On the day, the TSX S&P composite rose 164.75 points to 12,275.36 as the TSX Venture Exchange advanced 39.22 points to 2,952.20. Notably, adding to the bull run, shares of newly traded and restructured Stelco Inc. rose 19 percent on the trading price of $15 a share. The issue price was comparably lower at $5.50 prior to the debut. Separately, the TSX energy sector was higher by 2 percent with bellwethers like Suncor Energy Inc. gaining $3.17 to $92.70. Comparatively, the gold sector was higher by 2.9 percent as bullion surged past 25 year highs to set records on the day. Rising on the NYMEX, gold contacts for April delivery rose $8.70 to $590.50 an ounce. Subsequently, shares of Bema Gold Corp. climbed 18 cents to $5.34 a share.
Bonds were lower on the specter of higher rates as the world’s largest economy, the U.S., is expected to raise benchmark lending rates once again. The benchmark note was lower by 32 cents to 101.52 as the yield rose 4 basis points at 4.29 percent.
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