The Toronto stock market rallied Monday, as it continues to recover from last week's steep losses with aid from financial, energy, and mining stocks.
The S&P/TSX composite index closed the day higher by 163.69 points, or 1.1% to 14,466.39.
The Canadian dollar leaped 0.73 cents to 76.87 cents U.S.
Metals stocks led the parade, with Teck Resources jumping 73 cents, or 7.8%, to $10.10, while Lundin Mining hiked 34 cents, or 7.6%, to $4.82.
Gold also flexed its muscles, with Yamana Gold screaming 28 cents, or 11.6%, better to $2.70, while Kinross Gold gained 23 cents, or 9.5%, to $2.66.
Health-care stocks proved the worst off of the day, as Valeant Pharmaceuticals subsided $4.26, or 1.3%, to $321.02.
Telecoms also weakened, most notably, TELUS, down 65 cents, or 1.5%, to $43.92, while Rogers Communication surrendered 51 cents, or 1.1%, to $44.83.
Bombardier was once more the most actively traded stock, gaining five cents or, 3.3%, to $1.57, on 5.5 million shares.
ON BAYSTREET
The TSX Venture gained 6.33 points to 582.93.
Eight of the 14 TSX subgroups were higher on the day, especially metals and mining, mightier by 5.7%, gold, shinier 5.5%, and global base metals, ahead 4.8%.
The half-dozen laggards were weighed most by health-care, down 1.1%, telecoms, sliding 0.8%, and real-estate, off 0.7%.
ON WALLSTREET
U.S. stocks closed more than 1% higher on Monday, with the Dow breaking a seven-day losing streak, as a recovery in oil prices and a Warren Buffett acquisition boosted investor sentiment
The Dow Jones industrial average and S&P 500 had their best day since May 8, with the latter recovering all its losses from last week's rout.
The Dow Jones industrial average moved higher 241.79 points, or 1.4%, to close Monday at 17,615.17, as Caterpillar and Apple led all but one blue chip higher. The index closed lower on Friday, posting its first seven-day losing streak since the summer of 2011.
The S&P 500 hiked 26.81 points, or 1.3%, to 2,104.18, with energy leading nine sectors higher and utilities the only laggard.
The NASDAQ index climbed 58.26 points, or 1.2%, to 5,101.80
Apple jumped 3.6% for its third-best day of the year. Caterpillar surged 3.7% for its second-best day of the year. Both stocks had positive coverage in Barron's over the weekend.
Precision Castparts surged 19% on news that Warren Buffett's Berkshire Hathaway will acquire the maker of aircraft equipment for $235 a share, making for an all-cash deal of about $37.2 billion U.S.
IBM gained more than 1% after Buffett said on CNBC that "he loves it" when IBM's stock price goes down because the company can repurchase shares at better prices. Buffett's Berkshire Hathaway has an 8.12% stake in IBM, according to recent filings. The stock is off 3% for the quarter so far.
As earnings season winds down, reports from Credicorp, Kraft Heinz, Rackspace, and Shake Shack are all due after the bell.
In other corporate news, Alibaba jumped about 2.1% on its announcement of a 19.99 percent stake of 28.3 billion yuan ($4.56 billion U.S.) in Chinese electronics retailer Suning Commerce Group.
Twitter surged more than 9% amid a deal with the National Football League and news that interim CEO Jack Dorsey and other insiders bought shares of the beaten-down stock.
Economic conditions in the United States have largely returned to normal and a Federal Reserve decision to raise interest rates should come soon, the Atlanta Fed's Dennis Lockhart said in a Reuters report Monday.
He added in comment to journalists that he was "disposed" to begin raising rates in September but expected a gap of at least one policy meeting before any subsequent increases, Reuters reported.
Prices for 10-year U.S. Treasuries sagged, upping yields to 2.23% from Friday’s 2.17%. Treasury prices and yields move in opposite directions.
Oil prices recovered 94 cents a barrel to $44.81 U.S.
Gold prices added nine dollars to $1,103.10 U.S. an ounce.
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