Economy

Toronto's S&P/TSX composite breaks through 16000 mark for first time

Canada's main stock index turned positive shortly after the open on Monday as energy and material stocks lift, while Canopy Growth Corp surged more than 16 percent on Constellation Brands Inc stake.

The Canadian dollar was trading at 77.81 cents US, up from an average price of 77.68 cents USA on Friday.

Canopy Growth was up 13.6 percent to C$14.53 after surging as much as 22.9 percent on news that Corona beer maker Constellation Brands Inc bought a almost 10 percent stake in the company.

The Toronto Stock Exchange's S&P/TSX composite index rose 22.81 points, or 0.14 percent, to a record close at 16,025.59.

The overall healthcare group was on track for its biggest gain since June, rising 3.6 percent. The benchmark index also broke the intraday record set on Friday, touching as high as 16,033.12. The S&P 500 index was down 2.71 points to 2,578.36 and the Nasdaq composite index was up 15.34 points to 6,716.60.

Element Fleet Management Corp was up a hefty 9.2 percent to end at C$10.32, while overall financial services remain unchanged.

Goldcorp Inc advanced 2.0 percent to C$17.15.

Consumer staples was the only sector that retreated, sliding 0.5 percent.



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