Banks up, miners slide
Equity markets in
The S&P/TSX composite index gained 45.73 points to end Monday at 15,171.23
The Canadian dollar was higher by
The strength in equity markets and much profit-taking fueled a 2.2% drop in gold prices, which have been rallying in recent weeks. Shares of gold producers gave back some of their strength.
Financials moved up as Bank of Montreal added 0.4% to
Shares of energy producers gained with the price of Brent crude oil rising. Suncor Energy jumped 1.7% to
Among gold-mining stocks, Goldcorp shed 2.3% to
In corporate news, Bombardier Inc's CSeries aircraft program received a boost as the company announced two tentative orders for a total of up to 24 jets worth nearly
Nine of the 14 Toronto subgroups were higher Monday, with energy gushing 1.7%, while health-care and financials each took on 0.5%
The five laggards were weighed by gold, down 2.7%, materials, down 1.3%, and the metals and mining group, sliding 0.4%
Stocks have shaken off last week's Portuguese bank scare. The Dow is back above 17,000 and is once again at a record high.
The Dow Jones Industrials vaulted 111.61 points to 17,055.42, having hit a new peak of 17,085 in the morning.
The S&P 500 gained 9.53 points to 1,977.10, and the NASDAQ composite gained 24.93 points to 4,440.42.
The rally comes as Goldman Sachs released an upgraded target for the S&P 500. Analysts there now think the broad index will hit 2,050 by year's-end instead of 1,900.
The S&P 500 was hovering around 1,980 all day.
Citigroup reported earnings that beat expectations despite a
Shares of the other big banks --
Several well-known tech stocks were up big Monday. Netflix hiked more than 3% while Amazon gained more than 2%. Advertising giant Omnicom's Annalect subsidiary released a research report that says binge watchers are more open to ads than marketers previously thought, which may be good news for Netflix and Amazon's Prime service.
In social media news, Facebook and Twitter both said that the World Cup smashed activity records: Facebook said the
Twitter said 618,725 tweets were getting sent every minute at the end of the match, a record for an event.
Facebook shares were up 2.6% and Twitter stock is trading 1.2% higher.
Apple, fresh off an upgrade from Barclays, is up about 1.6%.
Pharmaceutical company AbbVie presented a fifth, and seemingly final, offer to Irish drug maker Shire in a bid to move lower its tax liability. The magic number that charmed Shire's board into recommending shareholder approval is about
Perrigo, a U.S. generic drug company that is domiciled in
Prices for 10-year U.S. Treasuries sagged, upping yields to 2.55% from Friday's 2.52%. Treasury prices and yields move in opposite directions.
Oil prices regained
Gold prices tailed off
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