Toronto stocks held on to small gains Monday, as investors played catch-up to recently strong U.S. indexes and took courage from recent upbeat statements by Bank of Canada Governor David Dodge.
The TSE 300 index closed up 37.06 points, or 0.47%, at 7,870.30, as Toronto’s main equity gauge posted a gain while major U.S. indexes fell. Volume was strong today with 105 million shares changing hands.
Magna International Inc. led Monday’s net-gainers, rising $2.87 to $109.45 after its Intier Automotive subsidiary said it would supply truck interiors for General Motors Corp in a deal that could be worth $500 million a year.
All but one of the TSE’s 14 subgroups made gains on Monday, led by the metals and minerals subindex, up 1.51%.
Alcan Inc. gained 78 cents to $60.75 as investors bet on a recovery in base metals prices.
Gold stocks rose 1.39%, led by Barrick Gold Corp., which closed up 34 cents at $27.09, and Goldcorp Inc., up 71 cents at $20.56
On Canada’s small-cap index, the CDNX, trading was active on a volume of 33.3 million shares, with 217 advances, 154 declines and 515 issues unchanged.
The S&P/CDNX Composite Index closed up 17.68 points at 1089.62.
The technology-laced Nasdaq Composite Index fell 22.25 points, or 1.08%, to 2,037.13. The blue-chip Dow Jones industrial average dropped 62.69 points, or 0.6%, to 10,197.05, while the S&P500 Index eased 7.61 points, or 0.65%, to 1,164.90.