Canadian stocks continued to rise Monday, extending last quarter's strong gains on optimism over corporate earnings.
A slumping loonie also alleviated concerns the Bank of Canada may soon raise interest rates, putting markets in a good mood.
The TSX Composite Index was up 70.06 points to 15,705, approaching record highs from earlier this year.
Energy stocks slumped to buck the uptrend in the broader market. Health care stocks jumped 2 percent and financials were fractionally higher.
Grocery store chain Metro (MRU.TO) has acquired convenience store operator The Jean Coutu Group (PJC) approximately C$4.5 billion.
Valeant Pharmaceuticals International, Inc. (VRX, VRX.TO) has commenced cash tender offers to purchase up to $1 billion aggregate principal amount of their respective outstanding notes.
They also launched an offering of $1 billion aggregate principal amount of senior secured notes due 2025.
RioCan REIT (REI_u.TO) plans to sell 100 Canadian properties worth about $2 billion by the end of the decade.
WTI light sweet crude oil was down $1.24 to $50.43 a barrel, sliding from a recent 4-month peak.
A report surfaced showed OPEC compliance with its supply quota plan has dropped to 86%. With supplies outpacing demand, the glut of oil is expected to linger in 2018.
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