Canadian Stocks Rise for Fifth Day, Led by Mining and Patent Sectors

Strategic Insights -

Canadian stocks experienced a fifth consecutive day of gains on Monday, with the S&P/TSX Composite Index closing up 85.62 points or 0.64 percent at 13,386.49. This upswing was largely driven by the diversified metals and mining sector, which saw a 2.47 percent increase. Notably, Teck Resources Ltd., Canada's largest base-metals producer, surged 4.77 percent, while Lundin Mining Corp. advanced 1.22 percent. In the patent sector, Wi-LAN Inc. witnessed a significant gain of 8.35 percent after settling a lawsuit with Texas Instruments Inc. over Bluetooth technology for an undisclosed amount.

Key Takeaways:

  • The S&P/TSX Composite Index rose 85.62 points, or 0.64 percent, to close at 13,386.49.
  • The diversified metals and mining sector led the charge, climbing 2.47 percent.
  • Teck Resources Ltd., Canada's largest base-metals producer, rallied 4.77 percent.
  • Lundin Mining Corp. advanced 1.22 percent.
  • Wi-LAN Inc. surged 8.35 percent after settling a lawsuit with Texas Instruments Inc. over Bluetooth technology.
  • Sun Life Financial Inc. gained 0.62 percent after announcing that Donal Stewart, the company's president and CEO, would retire on November 30.
  • Magna International Inc. reduced 1.25 percent.
  • Thomson Reuters Corp. declined 2.11 percent.
  • The S&P/TSX Venture Composite Index added 17.73 points, or 0.93 percent, to close at 1,921.91.
  • Statistics Canada's Industrial Product Price Index edged down 0.2 percent between April and May.
  • The Raw Materials Price Index dropped 5.2 percent over the same period.

Statistics:

  • The S&P/TSX Composite Index increased by 85.62 points, or 0.64 percent, to 13,386.49.
  • The diversified metals and mining sector climbed 2.47 percent.
  • Teck Resources Ltd. rallied 4.77 percent.
  • Wi-LAN Inc. surged 8.35 percent.
  • Sun Life Financial Inc. gained 0.62 percent.
  • Magna International Inc. reduced 1.25 percent.
  • Thomson Reuters Corp. declined 2.11 percent.
  • The S&P/TSX Venture Composite Index rose 17.73 points, or 0.93 percent, to 1,921.91.
  • The Canadian dollar appreciated against its U.S. counterpart, with one U.S. dollar buying 0.9611 Canadian dollars at 5 p.m. local time.

Sources:

  • Xinhua News Agency, "Canadian stocks rise for fifth day on Monday" (Jul 04, 2011)
  • Statistics Canada, Industrial Product Price Index (May 2011)
  • Comtex News Network, Inc., Comtex SmarTrend Alert (Jun 30, 2011)