Canadian stocks snapped a six-day loss to end a tad higher Monday, driven by gains in energy, gold and financial stocks as investor sentiments on the U.S. improved after Standards & Poor's upgraded its credit rating for the world's largest economy. Nonetheless, the gains were limited on some weak macroeconomic data out of China with renewed worries over the country's economic growth in the near term.
A slew of economic data out of China over the weekend suggest sluggish activity in the world's second largest economy. Data on exports, lending, industrial production and fixed asset investment showed weak growth in May, while retail sales maintained momentum and inflation slowed unexpectedly.
Meanwhile, credit ratings agency Standard & Poor's upgraded its outlook for the U.S. to "stable" from "negative" on Monday, reducing the likelihood of a near-term downgrade.
The S&P/TSX Composite Index closed Monday at 12,382.67, up 9.37 points or 0.08 percent. The index touched an intraday high of 12,400.68 and a low of 12,328.45. The Index lost about 400 points or 3 percent in the past six sessions.
The Global Gold Index inched up 0.37 percent, with gold futures for August delivery moving up $3.00 or 0.2 percent to close at $1,386.00 an ounce Monday on the Nymex.
The Capped Materials Index gained 0.10 percent, with Potash Corporation of Saskatchewan Inc.(POT.TO) down 0.45 percent.
Among gold stocks, Yamana Gold Inc. (YRI.TO) edged up 0.26 percent, while Goldcorp Inc. (G.TO) added 0.34 percent. IAMGOLD Corp. (IMG.TO) moved up 1.48 percent, while Barrick Gold Corp. (ABX.TO) gained 1.02 percent.
Fitch Ratings Friday affirmed the Issuer Default Rating of Kinross Gold Corp. (K.TO) at 'BBB-', a rating that is stable. Kinross Gold Corp. (K.TO) moved up 1.10 percent. .
The Diversified Metals & Mining Index surrendered 0.84 percent, with First Quantum Minerals Ltd. (FM.TO) gaining 1.07 percent, Osisko Mining Corp. (OSK.TO) up 1.33 percent, and Lundin Mining Corp. (LUN.TO) down 1.67 percent.
Teck Resources Limited (TCK_B.TO) lost 2.38 percent after announcing the transfer of oil sands rights and other miscellaneous interests associated with Lease 14 to Shell Canada Energy. In turn, Shell Canada will transfer to Teck the oil sands rights and other miscellaneous interests associated with a certain number of leases.
The Energy Index gained 0.20 percent, with U.S. crude oil futures for July delivery down $0.26 or 0.3 percent to close at $95.77 a barrel Monday on the Nymex.
Among energy stocks, Suncor Energy Inc. (SU.TO) edged up 0.44 percent, while Canadian Natural Resources Limited (CNQ.TO) moved up 0.30 percent. Enbridge Inc. (ENB.TO) moved up 1.55 percent, while Talisman Energy Inc. (TLM.TO) added 0.51 percent. Encana Corp. (ECA.TO) gained 0.27 percent.
Total Energy Services (TOT.TO), gained 1.03 percent after announcing a hike in its 2013 capital expenditure budget by $23.7 million to $68.6 million.
The Financial Index gained 0.19 percent with Manulife Financial Corp. (MFC.TO) down 0.37 percent, National Bank of Canada (NA.TO) gained 0.66 percent, Bank of Nova Scotia (BNS.TO) added 0.24 percent, and Bank of Montreal (BMO.TO) gained 0.85 percent. Royal Bank of Canada (RY.TO) added 0.22 percent.
Canadian Western Bank (CWB.TO) gained 0.14 percent after reporting second-quarter adjusted cash earnings of C$0.55 per share, same as last year. Analysts expected earnings of C$0.56 per share for the quarter.
The Information Technology Index shed 0.27 percent, with BlackBerry (BB.TO) gathering 0.99 percent.
The Capped Industrials Index lost 1.05 percent, with Bombardier Inc. (BBD.A.TO, BBD.B.TO) down 2.64 percent.
Cash Store Financial Services (CSF.TO) moved up 2.64 percent, despite stock exchange proposed class action proceedings against the company and certain of its present and former directors and officers.
E-L Financial Corp. (ELF.TO) gained 9.46 percent after announcing it would divest its wholly-owned subsidiary, The Dominion of Canada General Insurance Company, to The Travelers Companies, Inc. (NYSE: TRV) for $1.125 billion in cash.
In economic news, Canada Mortgage & Housing Corp. said Canada's housing starts rose to 200,200 units in May following 174,900 units recorded in the previous month. Economists expected 179,100 units in May.
In economic news from the eurozone, Germany's foreign trade surplus declined less than forecast in April, data from the Federal Statistical Office showed. The trade surplus fell to EUR 18.1 billion in April from EUR 18.8 billion in March. Economists had forecast a decline to EUR 17 billion.
Germany's industrial output growth accelerated to 1.8 percent month-on-month in April from 1.2 percent in March, the Ministry of Economics and Technology. Production was forecast to remain flat in April. On a yearly basis, industrial production grew 1 percent, reversing last month's 2.4 percent drop. Economists had forecast output to drop 0.7 percent annually.
Meanwhile, the U.K. visible trade deficit narrowed sharply in April largely reflecting a decline in imports, the Office for National Statistics said. The deficit on trade in goods fell to GBP 8.2 billion in April from GBP 9.2 billion in March. The April figure was better than the expected GBP 8.8 billion deficit.
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Market Analysis
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.