Canada’s main stock index finished on the higher side on Monday, as sinking oil prices had weighed on energy stocks in early trading. Tech and health care also overcame early struggles to close higher with mining, industrial, and financial shares. The telecom sector was the only one to head lower by the end of the day. Later this week, traders will assess domestic inflation data and interest rate decisions from major central banks.
After recording losses in the previous week, U.S. stocks opened the day lower, but turned things around by market close. The housing market index declined for the ninth consecutive month and below expectations. This was the lowest reading since May 2020.
Today in the Markets
The Canadian dollar traded for 75.43 cents US compared to 75.31 cents US on Friday.
US crude futures traded 0.30 per cent lower at $85.41 a barrel, while the Brent contract gained 0.36 per cent to $91.71 a barrel.
The price of gold was down US5.54 to US$1,673.19.
In world markets, the Nikkei remained at 27,567.65, the Hang Seng was down 195.72 points to 18,565.97, the FTSE remained at 7,236.68, and the DAX was up 61.98 points to 12,803.24.
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