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Stockhouse @ the Bell: Toronto stock market climbs on higher commodities, little economic news

Canadian Press, The Canadian Press
0 Comments| June 9, 2014


TORONTO _ The Toronto stock market finished higher Monday, driven by mostly stronger commodity prices amid little economic news besides some mixed data from China over the weekend.

The S&P/TSX composite index rose 32.31 points to 14,871.21. The Canadian dollar was up 0.19 of a cent to 91.68 cents US.

Higher commodities boosted the energy and gold sectors on the TSX as July crude in New York climbed $1.75 to US$104.41 a barrel. August bullion gained $1.40 to US$1,253.90 an ounce, while July copper fell a penny to US$3.04 a pound.

On Wall Street, U.S. markets had been expected to come down slightly after touching record highs last week. Instead, the Dow Jones industrials advanced 18.82 points to 16,943.10 and the Nasdaq rose 14.84 points to 4,336.24. The S&P 500 index was ahead by 1.83 points to 1,951.27.

China reported some positive news on Sunday, saying export growth accelerated by seven per cent in dollar terms in May although imports declined 1.6 per cent.

In corporate news, U.S. meat producer Tyson Foods Inc. said it has won a bidding war for Hillshire Brands, maker of Jimmy Dean sausages and Ball Park hot dogs. Tyson Foods, which had been fighting with Pilgrim's Pride for Hillshire, values the deal at nearly $9 billion US.

For news about small stocks that made big moves in Monday’s trading, please read the
Stockhouse Canadian Small and Micro-cap Stock Report


Tags: GOLD

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