Markets in Toronto rose at the open as oil and gas stocks, led by Canadian Natural Resources Ltd, spearheaded broad gains across all sectors.
The S&P/TSX Composite Index leaped 90.19 points to open Monday at 15,628.07
The Canadian dollar gained 0.39 cents to 73.31 cents U.S.
Natural Resources shares vaulted 83 cents, or 2%, to $43.07.
SNC-Lavalin will not raise its offer for British engineering and construction firm WS Atkins unless it faces a rival bid for the British firm.
SNC nosed ahead two cents to $52.47.
Bank of Canada Governor Stephen Poloz told the Globe and Mail that Home Capital Group's problems are contained but the sharp gains in Canadian home prices and their possible impact on the financial system are a primary concern for the central bank.
Home shares gained 54 cents, or 5.9%, to $9.68.
Eldorado Gold has agreed to buy the remaining shares of Integra Gold, to expand its mining opportunities in the Eastern Abitibi region of Canada.
Eldorado shares erased 37 cents, or 7.4%, to $4.63.
Canaccord Genuity raised the price target on Amaya to $31.00 from $29.00. Amaya shares dropped 51 cents, or 1.9%, to $26.00.
Canaccord Genuity raised the price target on Onex Corp. to $111.00 from $108.00. Onex shares backtracked 61 cents to $100.01.
National Bank of Canada raised the target on Valener to $23.00 from $22.00. Valener shares added 11 cents to $22.40.
On the economic front, the Canadian Real Estate Association reported that re-sales of Canadian homes fell 1.7% in April from record highs in March as new listings spiked. CREA said actual sales, not seasonally-adjusted, were down 7.5% from April 2016, while home prices were up
ON BAYSTREET
The TSX Venture Exchange spiked 10.94 points, or 1.4%, to 804.58
All but one of the 12 TSX subgroups were in the green Monday, as energy bolted 2.1% higher, health-care was haler 0.8%, and materials bolstered 0.7%.
The lone holdout was in telecoms, down 0.2%.
ON WALLSTREET
The NASDAQ composite hit a fresh record high on Monday as gains in large-cap tech stocks lifted the tech-heavy index. Investors also kept an eye on surging oil prices after comments from the Russian and Saudi energy ministers.
The Dow Jones Industrials Average bounced 75.39 points higher to 20,972, with Johnson & Johnson contributing the most gains.
The S&P 500 inched improved 10.43 points to 2,401.47, with energy advancing more than 1% to lead advancers. Energy received a boost from rising oil prices.
The NASDAQ gained 19.67 points to 6,140.90. The technology sector rose about 0.3% with Facebook and Alphabet gaining about half a percentage point.
On Friday, a "ransomware" virus dubbed WannaCry hit 200,000 in more than 100 countries. The virus locked up computers in car factories, hospitals and schools.
President Donald Trump ordered Homeland Security Adviser Tom Bossert to hold an emergency meeting Friday night to assess the threat posed by the attack
Meanwhile, North Korea said it tested a new type of missile that can carry a nuclear warhead. However, the U.S. military's Pacific Command said on Sunday the type of missile that was fired was "not consistent" with an ICBM and South Korea's military played down the North's claim of technical progress on atmospheric re-entry.
Prices for the benchmark 10-year Treasury note fell, raising yields to 2.34% from Friday’s 2.33%. Treasury prices and yields move in opposite directions.
Oil prices gained $1.41 at $49.25 U.S. a barrel
Gold prices picked up $5.20 at $1,232.90 U.S. an ounce.
