TSX Inches Closer to Breakeven

May 06, 2019 (Baystreet.ca via COMTEX) — Canada’s main stock index fought its way out of a deep hole and very nearly moved into green territory Monday, as nerves over heightened trade tension between the U.S. and China settled somewhat.

The S&P/TSX Composite Index came off its lows of the morning, improving to within 0.97 points of Friday’s close to end Monday at 16,493.46. The index began the day with triple-digit losses

The Canadian dollar regained 0.1 cents to 74.41 cents

Health-care stocks grew the tallest of the advancing groups, as Bausch Health Companies leaped $2.87, or 9.1%, to $34.30. Canopy Growth took on 28 cents to $66.11.

Real-estate also impressed, as units of Allied Properties REIT gained 65 cents, or 1.4%, to $48.11. Real Matters inched up three cents to $6.00.

In technology, Constellation Software climbed $9.08 to $1,176.62, and Shopify acquired $2.44 to $357.30.

Among materials, First Quantum Minerals dropped 40 cents, or 3%, to $12.90, while Agnico Eagle Mines tailed off 28 cents to $54.91.

In consumer discretionary, Magna International fell 55 cents to $72.99, while Canada Goose Holdings slid $1.67, or 2.3%, to $71.83.

Industrials took a step back, as Canadian Pacific Railway retreated 23 cents to $298.78

ON BAYSTREET

The TSX Venture Exchange was negative 2.8 points to finish Monday at 603.78

The 12 Toronto subgroups were split down the middle, with health-care hiking 1.9%, real-estate better by 0.5%, and information technology up 0.2%.

The half-dozen laggards were weighed most by materials, down 0.7%, consumer discretionary issues, off 0.4%, and industrials, sliding 0.3%.

ON WALLSTREET

Stocks recovered the bulk of their earlier losses on Monday as investors bet China and the U.S. will still strike a trade deal despite President Donald Trump’s threat to hike tariffs on Chinese imports over the weekend.

The Dow Jones

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