Canada Stocks Rally Over Second Half of Monday To Close Up 60 Pts On Strong Volumes; Blackberry In the News

Monday, January 25, 2021 4:09 PM | MT Newswires

Unlike in the first half of Monday's session, Canada's main stock market, the Toronto Stock Exchange, managed to hold on to gains made over the second half before closing up 60 points at near 17,906, more than 150 points above day lows hit before midday after it failed then to build on early progress. The resources heavy index was buoyed by higher oil prices, even if gold prices were lower.

According to BNN Bloomberg TV, TSX volumes were up about 35% versus the 20-day average.

Among individual stocks, Bloomberg News reported some of Reddit's "favorite rockets" -- including Blackberry (BB.TO, BB) --soared again on Monday, even though benchmark equity gauges were sllghtly higher. BB closed on the TSX up 28% and hit its highest levels in near a decade.

Among sectors, Energy was up about 0.35%. But Materials fell something similar, and Financials were flat to lower.

Of commodities, gold closed with a slight dip on Monday despite a rising U.S. dollar as investors moved to cut risk as final details of an economic-relief package put forward by the Biden administration are awaited. Gold for April delivery closed $0.90 to US$1,859.00 per ounce.

But West Texas Intermediate crude oil settled higher despite Friday's report of rising U.S. oil inventories and rising Covid-19 infections globally. WTI crude for March delivery closed up $0.50 to US$52.77 per barrel, Marketwatch reported. March Brent crude, the global benchmark, was last seen up $0.37 to US$55.78.

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