Markets in Toronto rose on Monday, boosted by energy stocks as crude prices found support in concerns about output disruptions in Libya.
The S&P/TSX composite index moved higher 125.35 points to greet noon at 14,734.60
The Canadian dollar fell 0.12 cents to 85.95 cents U.S.
Suncor Energy played the biggest role in lifting the index, rising 2.2% to $38.12. Enbridge rose 1.2% to $59.54.
The materials sector rose, boosted in part by shares of gold miners. Spot gold fell on Monday, but had jumped on Friday when Canadian equity markets were closed for the Boxing Day holiday.
Goldcorp rose 1.9% to $20.95, while rival Barrick Gold Corp was up 1.8% at $12.23.
ON BAYSTREET
The TSX Venture Exchange regained 3.89 points to 678.21
All 14 Toronto subgroups were positive midday, most notably global base metals, up 2.2%, their cousins among metals and mining stocks gaining 1.8%, and energy, better by 1.2%.
ON WALLSTREET
U.S. stocks traded slightly higher on Monday, shaking off earlier pressure from Greece's failure to elect a president.
The Dow Jones Industrials nosed higher 9.92 points to 18,063.63, with JPMorgan Chase and Chevron leading gains and IBM the greatest laggard.
The S&P 500 added 4.17 points to 2,092.94, with utilities leading gains in six of the sectors and consumer staples the greatest laggard.
The NASDAQ index gained 4.47 points to 4,811.23.
In other market news, the burger chain Shake Shack filed with U.S. regulators on Monday for an initial public offering of common stock with a nominal fundraising target of $100 million U.S.
Airline stocks will also likely be in focus after the disappearance of AirAsia flight QZ8501.
Greek stocks fell as much as 11% on the news, paving the way for a snap election on January 25. The result did not come as a surprise, with many analysts saying prior to the vote that the Greek government needed a "miracle" to avoid a general election.
Prices for 10-year U.S. Treasuries gained ground, lowering yields to 2.20% from Friday’s 2.24%. Treasury prices and yields move in opposite directions.
Oil prices gained seven cents per barrel to $54.80 U.S.
Gold prices retreated $15.10 an ounce at $1,188.80 U.S.
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