Canadian equities closed higher on Monday, with the S&P/TSX Composite Index up 0.26% at 22,345.12, as gains in precious metals and healthcare offset declines in industrial names.
The S&P/TSX 60 VIX, a measure of expected volatility, fell 0.59% to 13.48, reflecting reduced market uncertainty. Advancing issues trailed decliners by 429 to 521, with 79 stocks unchanged. The diversified materials, healthcare and real estate investment trusts sectors provided the strongest contributions.
Gold mining stocks led advancers, with Seabridge Gold surging 10.48% to C$45.86. NovaGold Resources and I-80 Gold also posted gains of 7.74% and 6.83%, respectively. The sector’s strength followed a 0.55% rise in December gold futures to $4,706.14 per troy ounce.
Industrial equities weighed on the benchmark. Linamar Corp dropped 8.34% to C$99.62, while Magna International and BRP Inc fell 6.56% and 5.94%, respectively. The declines weighed on the broader industrials group.
Energy shares declined as crude oil futures fell. October WTI crude dropped 2.45% to $84.93 per barrel, while November Brent crude declined 2.53% to $90.33. The Canadian dollar held steady against the U.S. dollar at 0.72, with the U.S. Dollar Index down 0.20% to 98.93.
