Canada Stocks-Gold lifts TSX as trade tensions escalate
EWC•Banks hold higher ahead of quarterly results
The financial index .SPTTFS was up 0.2%. Canada's big six banks will report third-quarter results this week, starting with Bank of Montreal BMO.TO and Bank of Nova Scotia BNS.TO on Tuesday.
Analysts have said bank stocks are trading at historically high valuations, with gains so far this year outperforming the TSX. "There is really no margin for error with respect to the banks. If they come out with very strong earnings, I don't think the market necessarily will reward them, but they will be punished if there is any disappointment," Petursson said.
TSX rises as gold miners offset trade worries
Canada's commodity-heavy stock index rose on Monday, boosted by gold stocks as bullion prices climbed, as investors weighed new U.S. tariffs on Canadian goods days after negotiations broke down last week.
