Canadian Stocks Are Rising At The Start Of The Week - Canadian Commentary

(RTTNews) - The Canadian stock market is gaining ground at the start of the new trading week. Gains in the Asian and European markets have provided a boost to sentiment Monday morning, along with steady commodity prices. Optimism ahead of trade talks between the U.S. and China is also contributing to the early gains.

Markets in Europe are firmly in positive territory Monday. Hopes for a trade deal are fueling gains at the start of the trading week, as China and the United States prepare to hold lower-level trade talks this week.

Markets on Wall Street are turning in a mixed performance Monday morning. The S&P 500 and the Dow Jones are up slightly in early trade, while the tech-heavy Nasdaq is trading in the red.

The benchmark S&P/TSX Composite Index is up 21.52 points or 0.13 percent at 16,345.23.

On Friday, the index closed up by 98.06 points or 0.60 percent, at 16,323.71. The index scaled an intraday high of 16,336.89 and a low of 16,194.89.

The Capped Healthcare Index is higher by 4.36 percent. Extendicare (EXE.TO) is advancing 2.43 percent and Tecsys (TCS.TO) is adding 0.58 percent.

The Capped Materials Index is up 0.43 percent. Franco-Nevada (FNV.TO) is higher by 0.07 percent.

The Energy Index is rising 0.24 percent. Crescent Point Energy (CPG.TO) is advancing 0.49 percent and Cenovus Energy (CVE.TO) is up 0.17 percent. Imperial Oil (IMO.TO) is climbing 0.37 percent and Canadian Natural Resources (CNQ.TO) is increasing 0.36 percent. Suncor Energy (SU.TO) is gaining 0.57 percent and Enbridge (ENB.TO) is adding 0.03 percent.

The Capped Industrials Index is up 0.23 percent. Canadian Pacific Railway (CP.TO) is advancing 0.28 percent and Canadian National Railway (CNR.TO) is rising 0.48 percent. Air Canada (AC.TO) is climbing 0.87 percent and Finning International (FTT.TO) is higher by 0.07 percent.

The Capped Information Technology Index is losing 0.87 percent. Descartes Systems Group (DSG.TO) is falling 0.37 percent and Sierra Wireless (SW.TO) is down 1.19 percent. Constellation Software (CSU.TO) is weakening by 1.17 percent.

The Gold Index is decreasing 0.14 percent. IAMGOLD (IMG.TO) is losing 0.19 percent and Kinross Gold (K.TO) is declining 1.97 percent. Yamana Gold (YRI.TO) is falling 1.13 percent.

On the economic front, Eurozone construction output increased for the third straight month in June, data from Eurostat showed Monday. Construction output advanced 0.2 percent month-over-month in June, but slower than the 0.3 percent rise in May.

Germany's producer price inflation held steady in July, in line with expectations, figures from Destatis showed Friday. Producer prices grew 3.0 percent year-on-year in July, the same rate of increase as in June.

UK house prices dropped in August as more sellers entered the market during summer holiday season, property website Rightmove reportedly said Monday. Average asking prices decreased 2.3 percent in August from July.

In commodities, crude oil futures for September delivery are up 0.12 or 0.18 percent at $66.03 a barrel.

Natural gas for September is up 0.001 or 0.03 percent at $2.947 per million btu.

Gold futures for December are up 8.10 or 0.68 percent at $1,192.30 an ounce.

Silver for September is up 0.054 or 0.37 percent at $14.685 an ounce.