Toronto stock market gains as investor sentiment recovers

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Last month’s fears of a global banking crisis dissipating

The Toronto Stock Exchange’s S&P/TSX composite index closed up 79.13 points, or 0.4%, at 20,196.69.Start your day with a roundup of B.C.-focused news and opinion delivered straight to your inbox at 7 a.m., Monday to Friday.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails or any newsletter. Postmedia Network Inc.

Healthcare stocks led gains, up 2.7%, with marijuana producer Tilray Brands Inc rising 6.3% amid reports it plans to acquire Canadian rival Hexo Corp in a deal worth about $250 million. Tilray is also due to announce results later on Monday.Article content The energy sector rose 0.8% on Monday after the largest U.S. oil producer Exxon Mobil Corp reportedly held preliminary talks with Pioneer Natural Resources Co about a possible acquisition of the shale oil producer.

Teck Resources Ltd ended the day down 2.6% after reiterating its rejection of an unsolicited bid from Glencore Plc, and recommended that shareholders vote for its own restructuring plan instead. The materials sector, which includes precious metals, ended the day down 0.1%, tracking weakness in gold and silver prices. GOL/ MET/LInvestors are also awaiting the Bank of Canada’s decision on further monetary tightening, and analysts largely expect the central bank to keep the benchmark rate at 4.5%. 0#BOCWATCH

 

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