Strong Finish for Canadian Stocks

Valeant Leads Health-Care Issues Higher

Equities in Toronto borrowed some muscle from stocks in the health-care and information technology fields, and exhibited near triple-digit gains on the market as a whole.

The S&P/TSX Composite Index gained 73.5 points to close Monday at 15,266.04

The Canadian dollar dropped 0.02 cents to 75.67 cents U.S.

Among individual stocks, Valeant Pharmaceuticals International rose 94 cents, or 5.6%, to $17.74, after activist investor and hedge fund manager John Paulson joined the company's board.

Elsewhere in the health-care sector, Medical Facilities Corporation took on a dime to $14.69.

Tech stocks fared well, too, as BlackBerry acquired 30 cents, or 2.2%, to $14.20, while Constellation Software took off the for stars, hiking $16.24, or 2.4%, to $702.00.

Financials were in the green as well, as Royal Bank of Canada was up 74 cents at $94.29, while Manulife gained 14 cents, or 1.7%, to $24.50.

Energy stocks were another matter, as shares of Suncor Energy faded 31 cents to $38.95, while Canadian Natural Resources rose 22 cents to $37.52.

U.S. activist investor Land & Buildings Investment Management LLC urged the management Hudson's Bay Co to explore strategic options, including going private.

The news sent shares of Hudson's Bay up $1.37, or 15.4%, to $10.25 and helped boost the consumer discretionary sector.

Shares of Bombardier advanced 11 cents, or 4.5%, to $2.58, after the company said it had received seven more orders for its Q400 aircraft from Philippine Airlines.

In the gold sector, Agnico Eagle Mines declined 80 cents, or 1.3%, to $61.20, while Kinross Gold was down seven cents, or 1.3%, at $5.34.

ON BAYSTREET

The TSX Venture Exchange eked forward 0.69 points to 776.60

All but three of the 12 TSX subgroups remained positive on the day, with health-care soaring 3.1%, information technology ahead 2.3%, and financials prospering 1%.

The three laggards were in energy, down 0.6%, gold, off 0.1%, and utilities, fading 0.02%.

ON WALLSTREET

U.S. stocks closed higher on Monday as technology stocks recovered from a wobbly performance last week.

The Dow Jones Industrials galloped 144.71 points to 21,528.99, surpassing a previous all-time high of 21,391.97, which was set last week.

The S&P 500 tacked on 20.31 points to 2,453.46, also to trade at a record, with information technology rising 1.4% to lead advancers.

The NASDAQ leaped 87.25 points, or 1.4%, to 6,239.01.

Large-cap technology stocks like Facebook, Amazon, Apple, Netflix and Google-parent Alphabet all traded higher. Amazon also hit an all-time high at the open.

Last week, valuation concerns sent the overall sector lower by around 0.8%. Tech is by far the best-performing sector of the year, rising 17.2%.

Several tech CEOs, including Amazon's Jeff Bezos and Apple's Tim Cook were slated to meet with President Donald Trump as the administration sets its sights on dramatic spending cuts.

There was no major economic data due Monday, but Wall Street noted remarks from a key Federal Reserve official.

Before the bell, New York Fed President Bill Dudley said the central bank inflation should pick up as wages rise along with continuing improvement in the labour market.

Prices for the benchmark 10-year Treasury note dropped off, raising yields to 2.19% from Friday’s 2.15%. Treasury prices and yields move in opposite directions.

Oil prices fell 59 cents to $44.15 U.S. a barrel

Gold prices faltered $10.30 to $1,246.20 U.S. an ounce.