The Toronto stock market is higher with sentiment improved by weekend polls indicating Greeks want to stay in the euro-zone.
The S&P/TSX Composite Index gained 41.38 points to begin the week at 11,617.85.
The Canadian dollar regained 0.11 cents to 97.53 cents U.S.
Canadian bank earnings reports continue this week, with Bank of Nova Scotia reporting Tuesday and Canadian Imperial Bank of Commerce and National Bank of Canada reporting on Thursday.
In other corporate news, privately-held Iristel Inc., one of Canada’s largest voice over internet protocol (VoIP) service providers, is set to increase its exposure in northern Canada.
The Toronto-based company will announce Monday a partnership with Ice Wireless, in hopes to advance on NorthwesTel Inc.’s tight hold of the home phone market in northern Canada.
The introduction of home phone and extra wireless services is scheduled to begin in Yellowknife on July 1.
On Friday, the Federal government reported that improved economic conditions allowed it to cut its deficit by almost $11 billion in the just completed fiscal year.
Early reports show the deficit stands at $23.5 billion for the 2011/2012 fiscal year, lower than projected both in the March budget and in last fall's economic update.
The Department of Finance was quick to note that the numbers are preliminary and that final results won't be known for months.
Surveys showed Greece's New Democracy party came first in all six opinion polls published on the weekend. That party backs the tough austerity measures that have made it possible for the country to exist on international bailouts.
The survey results were released three weeks before Greeks return to the polls after May election results proved inconclusive.
But markets were unnerved after political parties opposed to the bailout terms received unexpectedly high support, raising worries that Greece could exit the euro-zone.
ON BAYSTREET
The TSX Venture Exchange gained 13.27 points to 1,322.54.
All but two of the 14 Toronto subgroups were higher in the trading day’s first hour. Metals and mining progressed 1.1%, while energy stocks jumped 0.7% and materials were 0.6% more robust.
The two laggards were industrials, sliding 0.1%, and utilities, off 0.03%.
ON WALLSTREET
American markets are closed Monday for the Memorial Day holiday.
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