Industrials up, base metals slip
Rising energy stocks helped push the
The S&P/TSX composite index was up 21.36 points to finish the day at 14,227.08
The financial sector was in the red, with
All the big banks registered record annual profits last year but analysts believe this year will be more challenging amid a fading housing market.
The energy group gained as Imperial Oil popped
The tech sector was up with BlackBerry up
Ford has been struggling with in-car technology flaws and has more than seven million vehicles on the road with Sync using Microsoft voice-activated software.
The gold sector gained while Barrick Gold taking on
The base metals segment declined as copper prices fell
Economically speaking, data for February showed an improvement in German business morale, which beat market expectations and hit its strongest level since
Closer to home, Statistics Canada will release growth data for December and the fourth quarter on Friday. Economists looked for the economy to contract by 0.3% in December, largely because of crippling ice storms in
The 14 Toronto subgroups were evenly split between gainers and losers, with industrials leading the former camp, up 0.9%, while energy and consumer staples each improved 0.8%.
The seven losing subgroups were weighed mostly by global base metals, dipping 1.1%, while metals and mining stepped back 1% and health-care demurred 0.6%.
After rising to an all-time high earlier Monday, the S&P 500 closed just shy of a record.
The Dow Jones Industrial Average spiked 103.84 points to close Monday at 16,207.14
The S&P 500 index added 11.36 points to 1,847.61. The NASDAQ gained 29.56 points to 4,292.97
Stocks have bounced back from a rough January, when investors were rattled by turmoil in emerging markets. The S&P 500, which fell 3% in January, is now flat for the year.
Icahn, who owns a "significant position" in eBay stock, has proposed separating the company's traditional online auction business from its PayPal payment processing business.
eBay shot back, issuing a statement denouncing Icahn's "mudslinging attacks" on its directors.
Shares of eBay were up just the same.
Comcast said Sunday that it will allow Netflix to connect directly to its broadband network, allowing for faster streaming. Netflix is expected to pay Comcast for the access, yet it's unclear how the added expense may impact subscription fees.
HSBC shares slid after the bank reported earnings that came in below expectations.
Blackberry shares rose on rumours that it could replace Microsoft to power Ford's future generation cars with smartphone technology.
Investors have been encouraged by corporate profits that beat analysts' expectations. According to FactSet Research, 72% of the companies in the S&P 500 have reported earnings for the fourth quarter that topped analysts' expectations.
Investors welcomed comments from global finance officials, who emphasized stimulating economic growth over austerity.
The G20 -- the world's 19 richest nations and the
Prices for 10-year U.S. Treasuries slid slightly, lifting yields to 2.75% from Friday's 2.73%. Treasury prices and yields move in opposite directions
Oil prices gained
Gold prices gained
Most Popular Stories
- Obama Administration Releases Proposal to Regulate For-Profit Colleges
- Apple, HP, Intel May Take a Hit from Slowdown in Smartphone Sales Growth
- Elizabeth Vargas' Husband Marc Cohn Addresses Rumors
- Keurig Adds Peet's coffee, Alters Starbucks deal
- U.S. to Relinquish Gov't Control Over Internet
- Motley Crue's Nikki Sixx Marries Model Courtney Bingham
- Quiznos Files for Chapter 11
- Chinese e-Commerce Giant Alibaba Gears for IPO in U.S.
- FDIC Files Lawsuit on Behalf of Banks Allegedly Hurt by Libor Scandal
- Some California Cities Seeking Water Independence