Canada’s main stock index rose on Monday, boosted by energy stocks, although gains were limited by a plunge in shares of Fortuna Silver Mines after a $1-billion deal to buy Roxgold Inc.
The TSX advanced 27.13 points to break for noon hour EDT on Monday at 19,129.46.
The Canadian dollar gained 0.57 cents to 80.66 cents U.S.
Fortuna Silver Mines’s shares rallied from deep in negative territory to gain 99 cents, to $210.67, while Roxgold jumped 29 cents, or 15.1%, to $2.21.
The largest percentage gainers on the TSX were First Quantum Minerals, which jumped $1.59, or 5.8%, to $29.16, and Turquoise Hill Resources, which rose $1.16, or 5.4%, to $22.70
The TSX Venture Exchange stayed positive eight points midday to 938.63,
Eight of the 12 TSX subgroups were lower, weighed mostly by gold, down 1.1%, consumer staples, off 0.6%, and utilities, down 0.4%.
The four gainers were led by health-care, up 0.7%, energy, better by 0.6%, and information technology, inching up 0.2%.
U.S. stocks traded slightly higher on Monday as investors geared up for one of the busiest weeks of the first-quarter earnings season.
The Dow Jones Industrials gathered 13.61 to 34,057.16.
The S&P 500 inched up 8.68 points to 4,188.85.
The NASDAQ Composite picked up 74.47 points to 14,091.27.
Tesla shares climbed more than 1% ahead of the electric carmaker’s earnings report after the bell Monday.
Investors are due for a busy week ahead between a Federal Reserve meeting, the debut of President Joe Biden’s “American Families Plan,” more inflation data and a torrent of corporate earnings reports.
About a third of the S&P 500 this week is set to update investors on how their businesses fared during the three months ended March 31. Some of the largest tech companies in the world are scheduled to report results this week, including Apple, Microsoft, Amazon and Alphabet.
With the global economy gradually reopening, firms like Boeing, Ford and Caterpillar are expected to note cost pressures they are facing from rising materials and transportation prices.
Corporations have for the most part managed to beat Wall Street’s forecasts thus far into earnings season. With 25% of the companies in the S&P 500 reporting first-quarter results, 84% have reported a positive per-share earnings surprise and 77% have topped revenue estimates.
Data out Monday showed new orders for capital goods rebounded less than expected in March. The Commerce Department said orders for non-defense capital goods excluding aircraft rose 0.9% last month, missing Dow Jones estimates of a 2.2% increase.
Prices for 10-Year Treasurys were lower, raising yields to 1.57% from Friday’s 1.56%. Treasury prices and yields move in opposite directions.
Oil prices sank 29 cents to $61.85 U.S. a barrel.
Gold prices edged up 60 cents to $1,778.40 U.S. an ounce.