Nov 4 Reuters Canada39;s main stock index rose on Monday as energy shares gained, while the market focused on the U.S. presidential election and the Federal Reserve39;s policy decision later this week.
The SPTSX composite index was up 82.17 points, or 0.34, at 24,337.33, set to extend its winning streak from Friday.
Energy shares led with a 1.5 rise as oil prices rose more than 2 after OPEC delayed a planned December oil output increase by a month.
The healthcare sector rose 1.1, driven by a 5.2 jump in cannabis firm Tilray Brands .
However, the gains were trimmed by the capped communication sector39;s 1.2 fall, dragged by BCE shares that slid 7.6 after the company agreed to buy internet services provider Ziply Fiber for 3.60 billion in cash.
Canadian 10year benchmark yield slipped as much as 8 basis points, mimicking its U.S. counterpart that fell on reduced bets for Donald Trump39;s victory.
This benefitted ratesensitive real estate shares, which soared 1.3.
All eyes are on Tuesday39;s U.S. election, with polls suggesting Democrat Kamala Harris and Republican Donald Trump are in a virtually neckandneck race to win the White House.
Canadian investors will be closely watching the election as the United States is its biggest trading partner and the largest buyer of its energy products.
A Kamala Harris presidency wouldn39;t materially alter the economic outlook for Canada, but a Trump presidency could make it tough for Canadian exporters, said Graham Priest,…