Equities in Canada’s largest market bolted higher to begin the day and the week, led by energy and financial sector stocks after U.S. crude oil prices rallied more than 6%
The S&P/TSX Composite Index leaped 150.28 points, or 1.2%, to start business at 12,963.68.
The Canadian dollar recharged 0.4 cents to 73.03 cents U.S.
Centerra Gold, which operates Kyrgyzstan's largest gold mine, Kumtor, says it has cut its proven and probable gold reserves by 495,000 contained ounces.
Centerra shares gathered 13 cents, or 1.8%, to $7.30.
KBW cut the price target on Canaccord Genuity Group to $4.50 from $5.50, with a market perform rating
Canaccord shares gained nine cents, or 2.3%, to $3.98.
BMO cut the target price on Constellation Software to $580.00 from $600.00 with a market perform rating.
Constellation boosted $15.00, or 2.9%, to $530.00
Barclays cut the target price on Enbridge to $60.00 from $62.00, with an overweight rating.
Enbridge bolted $1.45, or 3.4%, to $44.59.
ON BAYSTREET
The TSX Venture Exchange gained 2.29 points to 533.08
All but one of the 13 TSX subgroups made headway in the first hour, as metals and mining climbed 10.4%, energy strengthened 3.2%, and industrials were better by 1.4%.
Only gold missed making progress, sliding 1%.
ON WALLSTREET
U.S. stocks moved higher Monday, trying to build on their best weekly gain of 2016, as oil prices climbed.
The Dow Jones industrial average leaped 212.96 points, or 1.3%, to 16,604.95, out of correction territory on an intraday basis. Goldman Sachs and UnitedHealth contributed the most to Dow gains.
The S&P 500 took on 24.21 points, or 1.3%, to 1,941.99, within 10% of its 52-week intraday high, or out of correction, with materials, energy and financials leading gains
The NASDAQ index gained 64.39 points, or 1.4%, to 4,568.82, helped by gains in Amazon, Microsoft and Facebook. Apple traded more than 0.5% higher.
Copper and other industrial metals also climbed, helping shares of Freeport-McMoRan rise.
In U.S. economic news, the flash read on Markit Manufacturing PMI for February was 51.0, down from the final January print of 52.4.
Prices for the 10-year Treasury were unchanged, keeping yields at Friday’s 1.75%. Treasury prices and yields move in opposite directions.
Oil prices recouped $1.85 a barrel to $31.49 U.S.
Gold prices slumped $15.70 to $1,211.10 U.S. an ounce.
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