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Canadian Stocks Rise as Commodities Make a Comeback

Strategic Insights

— 1 min read

On Monday, May 09, 2011, Canadian stocks experienced a notable increase, driven by a resurgence in commodity prices. The S&P/TSX Composite Index closed at 13,677.13, up 110.53 points or 0.81 percent. The energy sector on the Toronto Stock Exchange (TSX) saw a 0.93 percent gain, with Suncor Energy Inc., Canada's largest energy producer, increasing by 0.87 percent. The diversified metals and mining sector on the TSX rose 1.44 percent, with Teck Resources Ltd., Canada's largest base-metals producer, up 0.33 percent. The materials sector on the TSX gained 1.54 percent, with Barrick Gold Corp., the world's largest bullion producer, climbing 1.19 percent.

Key Takeaways:

  • The S&P/TSX Composite Index closed at 13,677.13, up 110.53 points or 0.81 percent.
  • The energy sector on the TSX added 0.93 percent, with Suncor Energy Inc. increasing 0.87 percent.
  • The diversified metals and mining sector on the TSX rose 1.44 percent, with Teck Resources Ltd. up 0.33 percent.
  • The materials sector on the TSX gained 1.54 percent, with Barrick Gold Corp. climbing 1.19 percent.
  • On the loss, BlackBerry maker Research In Motion Ltd. dropped 2.63 percent.
  • The S&P/TSX Venture Composite Index closed up 31.15 points or 1.49 percent at 2,119.75.
  • Silver Wheaton Corp. reported a 142 percent growth in its first-quarter net earnings.
  • Canada Mortgage and Housing Corp. reported that housing starts fell to 179,000 in April.

Statistics:

  • The Canadian dollar appreciated against its U.S. counterpart, with one U.S. dollar buying 0.9622 Canadian dollars at 5 p.m. local time (2200 GMT) on Monday.
  • The Canadian dollar had previously traded at 0.9665 on Friday.
  • The S&P/TSX Composite Index gained 110.53 points or 0.81 percent to close at 13,677.13.
  • The S&P/TSX Venture Composite Index gained 31.15 points or 1.49 percent to close at 2,119.75.
  • Silver Wheaton Corp.'s first-quarter net earnings grew 142 percent.
  • Housing starts fell to 179,000 in April.

Sources:

  • Xinhua via COMTEX
  • Comtex SmarTrend Alert (As of Thursday, 05-05-2011 23:59)
  • Comtex News Network, Inc. (www.mysmartrend.com)
  • Copyright 2011 XINHUA NEWS AGENCY
  • Copyright 2004-2011 Comtex News Network, Inc. All rights reserved.

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