TSX Fights Back Above 15,000 -- Canadian Commentary

(RTTNews) - Canadian stocks fought back from some mid-day weakness and were poised to finish Monday's session in the green.

Markets were a bit on edge after Greece missed a self-imposed Sunday deadline for reaching an agreement with its creditors to unlock aid. Negotiations on a cash-for-reforms deal will commence afresh this week.

Elsewhere, U.S. personal income increased by slightly more than expected in April, but personal spending unexpectedly came in flat.

Personal income rose by 0.4 percent in April after inching up by less than a tenth of a percent in March. Economists had expected income to climb by 0.3 percent.

Meanwhile, the Commerce Department said personal spending dipped by less than a tenth of a percent in April following an upwardly revised 0.5 percent increase in March.

Activity in the U.S. manufacturing sector grew faster than anticipated in the month of May, according to a report released by the Institute for Supply Management on Monday.

The ISM said its index purchasing managers index climbed to 52.8 in May from 51.5 in April, with a reading above 50 indicating growth in the manufacturing sector. Economists had expected the index to inch up to 51.8.

A few minutes before the closing bell, the benchmark S&P/TSX Composite Index was up 45.16 points or 0.30 percent at 15,059.25.

On Friday, the index closed down 92.91 points or 0.62 percent, at 15,014.09.