Canadian Stocks Close Modestly Higher

(RTTNews) - Following the pullback seen over the two previous sessions, Canadian stocks moved back to the upside during trading on Monday.

The S&P/TSX Composite Index moved to the upside early in the session and remained in positive territory before closing up 43.38 points or 0.3 percent at 15,236.21.

Energy stocks helped to lead the market higher, with the S&P/TSX Capped Energy Index surging up by 1.9 percent.

The strength among energy stocks came despite a modest decrease by the price of crude oil, as crude for July delivery edged down $0.05 to $35.44 a barrel.

Meanwhile, consumer stocks turned in a mixed performance on the day, as the S&P/TSX Capped Consumer Discretionary Index jumped by 1.9 percent but the S&P/TSX Capped Consumer Staples Index slumped by 2.2 percent.

Financial stocks showed a strong move to the upside, while most of the other major sectors saw more modest moves as investors were cautious ahead of the Bank of Canada's interest rate decision on Wednesday.