Canadian Stocks Are Rising On Gold Strength -- Canadian Commentary

(RTTNews) - The Canadian stock market is climbing in early trade Monday, extending its gains from the previous two trading sessions. Gold and mining stocks are among the biggest gainers this morning, as the price of the yellow metal rises at the start of the new trading week.

Markets in Europe are trading in the green Monday. Investor optimism on Greece is driving the markets higher. After last week's meeting in Latvia failed to yield an agreement, the Greek government has adjusted its negotiating team. The move appears to intended to reduce the influence of Greek finance minister Yanis Varoufakis on the negotiations.

Markets in the United States are also positive this morning. Corporate earnings remain in focus on what will be another large week of reports. Tech giant Apple will report its results after the close today. Investors will be watching for any hints as to when the Federal Reserve will begin raising rates when it concludes its policy meeting on Wednesday.

The benchmark S&P/TSX Composite Index is up 11.21 points or 0.07 percent at 15,419.54.

On Friday, the index closed up 15.98 points or 0.10 percent, at 15,408.33. The index scaled an intraday high of 15,440.36 and a low of 15,367.99.

The Gold Index is climbing by 1.95 percent. Gold prices are rising Monday morning, taking back modest losses from the previous session ahead of a crucial statement from the Federal Reserve.

Goldcorp (G.TO) is increasing by 1.64 percent and Yamana Gold (YRI.TO) is rising by 2.15 percent. Barrick Gold (ABX.TO) is gaining 2.36 percent and Eldorado Gold (ELD.TO) is up 2.28 percent. B2Gold (BTO.TO) is higher by 1.60 percent and Kinross Gold (K.TO) is advancing 1.43 percent. Royal Gold (RGL.TO) is also climbing by 0.50 percent.

The Capped Materials Index is also higher by 1.39 percent. Agnico Eagle Mines (AEM.TO) is advancing by 1.93 percent and Franco-Nevada (FNV.TO) is up 1.31 percent. Silver Wheaton (SLW.TO) is higher by 3.17 percent.

The Diversified Metal and Mining Index is rising by 3.39 percent. Lundin Mining (LUN.TO) is up 2.06 percent and HudBay Minerals (HBM.TO) is climbing by 3.56 percent. Finning International (FTT.TO) is gaining 0.84 percent and Sherritt International (S.TO) is higher by 5.50 percent. First Quantum Minerals (FM.TO) is rising by 4.96 percent and Capstone Mining (CS.TO) is advancing by 3.47 percent. Teck Resources (TCK-A.TO) is adding 3.21 percent.

The heavyweight Financial Index is up 0.12 percent. Canadian Imperial Bank of Commerce (CM.TO) is rising by 0.59 percent and Royal Bank of Canada (RY.TO) adding by 0.24 percent. Bank of Montreal (BMO.TO) is higher by 0.52 percent and National Bank of Canada (NA.TO) is gaining 0.45 percent. Toronto-Dominion Bank (TD.TO) is climbing by 0.11 percent.

The Energy Index is decreasing by 0.18 percent. Crude oil prices were flat Monday morning as traders looked ahead of this week's interest rate decision from the Federal Reserve.

Cenovus Energy (CVE.TO) is down 0.77 percent and Suncor Energy (SU.TO) is falling by 0.37 percent. Canadian Natural Resources (CNQ.TO) is losing by 0.29 percent and Canadian Oil Sands (COS.TO) is declining by 1.32 percent.

Pacific Rubiales Energy (PRE.TO) is lower by 1.29 percent. The company announced that first quarter total net production is expected to be between 150 and 154 Mboe/d, an increase of approximately 2% from a year ago.

The Capped Health Care Index is falling by 0.32 percent. Catamaran (CCT.TO) is down 0.68 percent and Valeant Pharmaceuticals International (VRX.TO) is lower by 1.10 percent.

The Capped Information Technology Index is lower by 0.51 percent. Constellation Software (CSU.TO) is declining by 0.31 percent and Descartes Systems Group (DSG.TO) is down 0.36 percent.

BlackBerry (BB.TO) is falling by 1.90 percent, after the company unveiled a white color version of the BlackBerry Classic smartphone.

Copper Mountain Mining (CUM.TO) is gaining 9.57 percent. The company reported first quarter adjusted EPS of C$0.04, compared to C$0.07 in the previous year.

ResVerlogix (RVX.TO) is rising by 6.32 percent, after it announced a combination licensing and equity arrangement with Shenzhen Hepalink Pharmaceutical.

On the economic front, Germany's import prices continued to decline in March but the pace of decrease slowed for the second month, data from Destatis showed Monday.

Import prices fell by less-than-expected 1.4 percent in March from last year, following a 3 percent drop in February. Prices were expected to fall 2 percent. Nonetheless, the import price index has been falling since January 2013.

In commodities, crude oil futures for June delivery are up $0.46 or 0.80 percent at $57.61 a barrel.

Natural gas for May is down $0.076 or 3.00 percent at $2.455 per million btu.

Gold futures for June are up $20.30 or 1.73 percent at $1,195.30 an ounce.

Silver for May is up $0.584 or 3.73 percent at $16.22 an ounce.