Toronto stocks ended modestly ahead Monday, after an up-and-down session, as investors remained somewhat uncertain over the direction the Bank of Canada will take in tomorrow’s scheduled rate announcement.
The S&P/TSX composite index gained 22.82 points, or 0.20%, to 11,654.73, ending slightly off a late-session high of 11,664.92, but well above an intra-day low of 11,604.74.
Six of the 10 TSX main sub-groups were up, with the financials sector gaining 1.13%. Observers are unsure whether the Canadian central bank will keep the overnight rate at its present level or increase it by a quarter point.
Manulife Financial Corp. gained 55¢, or 1.51%, to $36.89.
The energy index, meanwhile, fell 0.65%. The benchmark August contract for light, sweet crude dropped 48¢ to US$73.61 a barrel.
EnCana Corp. dipped 26¢, or 0.45%, to $57.74.
The materials index was up 0.05%, but the gold index dipped 0.22%.
The August contract for bullion ended down $8.70 at US$626.10 an ounce.
Goldcorp. Inc. fell 7¢, or 0.21%, to $33.84.
The Canadian dollar slipped was down 0.86 of a cent at US88.88 cents on global foreign exchange markets.
Analysts said it appeared money market traders were assuming the Bank of Canada will stand pat on Tuesday.
The S&P/TSX Venture composite index dropped 24.12 points, or 0.90%, to 2,644.04.
In New York, markets were mixed as investors awaited the first announcements this week in a flood of corporate quarterly reports to come.
The Dow Jones Industrial Average rose 12.88 points to 11,103.55, off a top of 11,174.47. The Nasdaq Composite Index dropped 13.13 points to 2,116.93, while the S&P 500 Index climbed 1.86 points to 1,267.34.