Business
TSX keeps streak alive
TSX keeps streak alive
About this update from Thomson Reuters Corporation
[{"type":"text","content":"\nTSX keeps streak alive\n\nDiscretionaries lead the pack\n\n Apr. 26, 2010 (Baystreet.ca) -- Consumer discretionaries and industrials led Toronto's main index to a fresh 18-month high Monday, countering weakness in IT, utilities and consumer staples sectors, as traders geared up for a busy week on the corporate earnings front. \n\nThe S&P/TSX Composite Index closed at 12,280.97, up 41.33 points or 0.34%, extending its winning streak to a sixth session.\n\nThe industrials sector added strength, as heavy-equipment maker Finning International rose 3.8% to $19.73 and engineering firm SNC-Lavalin Group gained 2% to $52.40.\n\nDespite a pullback in oil prices, energy stocks edged higher. Encana gathered 1.3% to $33.08, Imperial Oil added 1.1% to $43.50 and Crew Energy advanced 3.7% to $18.08.\n\nThe Canadian dollar slid 0.2 cents to just below parity with the American dollar, at 99.87 cents. \n\nON BAYSTREET \n\nOf the 14 TSX subgroups, all but four were positive on the day. Consumer discretionaries lead the field, gaining 1%, followed by industrials, advancing 0.8% and metals and mining stocks, gaining 0.5%. \n\nConsumer staples and utilities weighed down the four stock groups that lost, each group giving back 0.4%, while information technology was just 0.1% in the red. \n\nThe TSX Venture Exchange accumulated 1.93 points to 1672.16, while the Nasdaq Canada index reversed course and picked up 13.01 points to 803.08\n\nON WALLSTREET\n\nIn New York, blue chips managed to eke out a fresh 19-month high Monday on Caterpillar's strong earnings, but a selloff in financials hit the broader market at the start of a busy week on Wall Street.\n\nThe Dow Jones industrial average gained only 0.75 points to close at 11,205.03. \n\nThe S&P 500 index faded 5.23 points to 1,212.05. The Nasdaq composite index skidded on the day 7.20 points to 2,522.95. \n\nStocks seesawed through the session as investors welcomed Caterpillar's earnings and forecast but showed reluctance at the start of a busy week. Financial concerns continued to drag on the market.\n\nStocks gained Friday after a surprisingly strong new-home sales report, with the Dow, Nasdaq and S&P 500 all gaining on the week as well. The Dow has now gained eight weeks in a row, the longest wining streak since January 2004.\n\nAlthough there are no economic reports due Monday, the pace picks up la...