Equities north of the border rose on Monday to a three-month high as mining and energy stocks gained on the back of higher oil and gold prices, while industrial and financial sector stocks also rallied.
The S&P/TSX Composite Index grew 171.1 points, or 1.3%, to 13,383.60, having posted eight positive sessions in a row. The benchmark equity gauge has gained 4.9% in eight days to erase its losses for the year.
The Canadian dollar regained 0.18 cents to 75.29 cents U.S.
Raw-materials producers rose to their highest level since July.
Primero Mining Corp. jumped 36 cents, or 16%, to $2.61, First Majestic Silver Corp. rose 60 cents, or 9.2%, to $7.10, and OceanaGold Corp. was up 32 cents, or 8.5%, to $4.08.
Energy shares rose to their highest since Dec. 1.
Paramount Resources Ltd. rose 95 cents, or 11.8%, to $9.00, Encana Corp advanced 77 cents, or 10.6%, to $8.07, and Baytex Energy Corp. was up 48 cents, or 9.9%, to $5.31.
Health-care companies gained the most among all sectors, as Valeant Pharmaceuticals International Inc. surged $5.51, or 6.8%, to $87.15, after announcing a date for its delayed fourth-quarter results.
ON BAYSTREET
The TSX Venture Exchange picked up 9.05 points, or 1.6%, to 571.44
All but one of the 13 TSX subgroups were in the green, as health-care was 4% haler, metals and mining climbed 2.5%, and industrials moved higher 2.3%.
Only real-estate missed the party, lower by 0.1%.
ON WALLSTREET
U.S. stocks closed mixed Monday, steadying after their first three-week rally of the year so far, as gains in energy stocks offset declines in technology.
The Dow Jones Industrial average gained 67.18 points to 17,073.95, posting its first five-session win streak since October. Chevron, IBM and Exxon Mobil contributed the most to gains. Visa and Nike were the greatest contributors to declines.
The S&P 500 docked 1.65 points to 1,998.34. Information technology traded more than 1% lower to lead S&P 500 decliners. Over the last four weeks, the sector is up more than 8% from its intraday low.
The NASDAQ index fell 8.77 points to 4,708.25
U.S. Federal Reserve Governor Lael Brainard argued for patience in raising rates, suggesting inflation is persistently under target but should move back to the 2% target despite downside risks.
Separately, Fed Vice Chairman Stanley Fischer said inflation is showing signs it could accelerate in the United States. He did not comment on whether the Fed was likely to raise interest rates this year.
The Federal Open Market Committee meets next week.
Prices for the 10-year Treasury dipped, raising yields to 1.91% from Friday’s 1.88%. Treasury prices and yields move in opposite directions.
Oil prices added $1.96 a barrel to $37.42 U.S.
Gold prices jumped $9.33 to $1,268.28 U.S. an ounce.
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