Gold Stocks Lead Jittery Market Higher -- Canadian Commentary

(RTTNews) - Canadian stocks nudged higher Monday, but gains were led by the gold sector amid increased safe haven appetite.

Disappointing U.S. economic data and reluctance ahead of Friday's U.S. jobs report kept investors on the sidelines.

The TSX Composite Index was up 36.65 points, or 0.24 percent, to 15,584.40, taking back Friday's losses. Gold stocks jumped 2.2 percent.

Bombardier's (BBD_B.TO, BBD_A.TO) Chief Executive Officer, has requested that the Board of Directors defer the payment of more than half of the total planned 2016 compensation for its top brass until 2020. Shares were up 1 percent.

Paladin Energy Ltd (PDN.AX, PDN.TO) said that the minority sale of 30% in Manyingee Project has not completed prior to the mutually agreed drop dead date of March 31, 2017.

Teranga Gold (TGZ.TO) announced positive results from its ongoing 115-hole drill program in Senegal, West Africa.

Cenovus Energy Inc's C$3 billion stock sale to partly fund its planned acquisition of some of ConocoPhillips' Canadian assets has been fully subscribed, Reuters reports

SNC-Lavalin (SNC.TO) has made a tentative $3.5-billion offer for WS Atkins. SNC added 0.77 percent.

Frank Boulben, who currently serves as the company's chief strategy officer, is expected to leave Rogers (RCI.b.TO) at the end of this month. Shares inched higher.

In economic news, Canada's RBC Manufacturing PMI increased to 55.5 in March from previous 54.7.

Activity in the U.S. manufacturing sector continued to expand in the month of March, according to a report released by the Institute for Supply Management, although the pace of growth slowed compared to the previous month.

The ISM said its purchasing managers index dipped to 57.2 in March from 57.7 in February.