Consumer discretionaries, staples highest
Shares in Burger King and Tim Hortons have jumped dramatically on news the two fast-food companies are talking about joining forces, a move that could help the iconic coffee and doughnut chain improve its chances of expanding successfully in the U.S.
The S&P/TSX composite index was up 63.19 points to close at 15,598.74
The Canadian dollar was down
It's not known what such a deal would be worth, but both stocks surged with U.S.-based Burger King up 16.2% to
Both companies have confirmed they are talking and have said
The TSX financials group gained ahead of earnings reports coming in this week from most of the big Canadian banks.
The TSX base metals group rose as September copper was ahead a penny at
The energy group edged up as Imperial Oil up
The gold sector declined, as Barrick Gold down
All but four of the 14 Toronto subgroups were higher, led by consumer discretionaries, up 2%, consumer staples, spiking 1.1%, and metals and mining, surging 0.7%.
The four laggards were weighed mostly by gold, down 1.3%, materials, slipping 0.5%, and real-estate, off 0.4%.
The S&P 500 climbed to a record close just below 2,000 on Monday, as U.S. stocks received a lift from deal activity and hints of more stimulus from the
The Dow Jones Industrials ballooned 75.65 points to close Monday at 17,076.87
The S&P 500 gained 9.52 points to 1,997.92. The NASDAQ added 18.80 points to 4,552.53
Shares of Burger King Worldwide Inc. jumped 15% after the company said it is in talks to buy Canadian coffee-and-doughnut chain Tim Hortons Inc. The deal would be set up as a so-called tax inversion, moving Burger King's tax base to
Shares of InterMune Inc. soared 36% after
Shares of Ann Inc. rose 6% after activist investor
Inspiration for Monday's gains came in part from stronger European markets, where the Stoxx Europe 600 gained on hints of more stimulus from
Prices for 10-year U.S. Treasuries gained a bit of strength, lowering yields to 2.39% from Friday's 2.40%. Treasury prices and yields move in opposite directions.
Oil prices were down
Gold prices dulled
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