Canadian Stocks Buck Global Downtrend -- Canadian Commentary

(RTTNews) - Canadian stocks rose Monday, trimming recent losses although despite significant weakness on Wall Street.

While the TSX saw modest but broad-based gains, the Dow Jones Industrial Average suffered its longest losing streak since August 2011.

The S&P/TSX Composite Index was up 63.55 points, or 0.41 percent, to 15,506.22.

Energy stocks dragged amid lower crude oil prices. WTI crude fell 24 cents, or 0.5%, to settle at $47.73 a barrel.

"OPEC's market intervention has not yet resulted in significant visible inventory drawdowns, and the financial markets have lost patience," investment bank Jefferies said in a research note.

Gold shares were up 1.9 percent as gold prices touched the monthly highs near $1260 an ounce.

Dominion Diamond Corps (DDC.TO) said it would explore strategic alternatives, including a potential sale. The company is the target of a $1.1 billion unsolicited bid by The Washington Cos. DDC added 1.9 percent.

Restaurant Brands International (QSR.TO) completed its US$1.8-billion friendly takeover of Popeyes Louisiana Kitchen fried chicken chain. Shares were up 0.7 percent.

AM Air Lease Corp. announced long term lease agreements with Air Canada for two new Boeing 787-9 aircraft with General Electric engines.