Stocks are moving higher yet again on Monday, adding to a slow and steady streak of gains as investors focus on company earnings and the higher prospects for more economic stimulus to combat the impact of the coronavirus. The Toronto Stock Exchange's benchmark group of stocks, known as the S&P/TSX composite index, was up by almost one per cent to 18,282. Investors believe improving economic fortunes and trillions of dollars in stimulus could make stocks more attractive as lending is cheaper and corporate earnings grow. Oil is rising on expectations that more of it will be needed to power an expanding economy, and Canada's stock market is closely tied to the price of oil. Shares in oil companies and pipelines were broadly higher on the TSX.

Source: CBC News February 08, 2021 17:26 UTC