12:14 PM EST, 11/25/2024 (MT Newswires) -- The Toronto Stock Exchange is flat to slightly higher at midday, after opening 60 points higher.

The biggest gainers are technology and healthcare, both up 1%, followed by telecoms, up 0.9%.

Energy, down nearly 2%, is the biggest decliner.

Oil prices eased early on Monday even as the dollar was sharply lower as geopolitical tensions cooled following reports Israel and Lebanon reached a ceasefire agreement to end its conflict with the Hezbollah militia group in the country.

Gold prices fell, dropping for the first time in six sessions despite a weakening dollar as geopolitical tensions eased following reports Israel and Lebanon reached a ceasefire agreement over Israel's war with the Hezbollah militia group.

BMO Economics in its morning note said the Toronto Stock Exchange rose 2.2% last week, and is quietly putting in an extremely strong performance as we near the end of 2024. Year to date, Canadian equities have rallied more than 21%, almost matching that seen in the S&P 500 -- despite lack of exposure to big tech and communication services names. Indeed, BMO noted, all major sectors aside from the woeful telecoms are up on the year, and eight of 10 have posted double-digit gains. Four of ten (materials, energy, financials and technology) have notched gains in excess of 20%. BMO said the Bank of Canada was quick off the mark in this easing cycle, and has also been moving fast, which has clearly helped banks, cyclicals and some rate-sensitive dividend payers. BMO noted growth is expected to improve in 2025. And, it added, Canadian stocks have just been cheap relative to their U.S. peers -- "they usually are, but the gap has been wider than normal."

Meanwhile, Roseberg Research noted a so-called 'Trump Rally' has morphs into a so-called 'Bessent Rally'. According to the research, investors are cheering on the Scott Bessent pick for Treasury Secretary in the United States - as he is viewed as the proverbial "adult in the room."

Among stocks to watch in Canada, Unifor said on Monday its members at Canadian National Railway ( CNI ) have authorized a strike action at the railroad if the parties fail to reach an agreement by Jan. 1, Reuters is reporting Monday.

CI Financial ( CIXXF ) jumped 30% and hit a fresh 52-week high as Mubadala Capital moves to take it private via an all-cash offer.