Stocks in Canada’s biggest market enjoyed triple-digit gains, propelled by sharply higher prices for energy stocks.
The S&P/TSX Composite Index leaped 144.19 points, or 1.1%, off its highs of the day, to close Monday at 13,893.49
The Canadian dollar acquired 0.24 cents to 77.52 cents U.S.
Base metals had a field day, most notably, Teck Resources, which zoomed 76 cents, or 6.2%, to $12.95, while First Quantum Minerals prospered 32 cents, or 3.8%, to $8.70.
Among energy plays, Baytex Energy jumped 27 cents, or 4.6%, to $6.21, while Suncor strengthened 91 cents, or 2.7%, to $34.98.
In the health-care field, Valeant Pharmaceutical climbed $1.29, or 3.8%, to $34.85.
On the economic beat, the Canadian Real Estate Association reported national home sales in April 2016 rose to their highest level ever, with sales hiking by 3.1% from March to April. Actual (not seasonally-adjusted) activity was up 10.3% compared to April 2015.
ON BAYSTREET
The TSX Venture Exchange grew 6.74 points to 686.42
All but one of the 13 TSX subgroups were higher, with metals and mining popping 3.9%, energy better by 3%, and health-care up 2.3%.
Only utilities missed the party, slipping but 0.03%.
ON WALLSTREET
Equities in the world’s biggest economy climbed 1%, with energy stocks leading as oil prices hit fresh highs for the year so far.
The Dow Jones Industrials skyrocketed 175.39 points, or 1%, to 17,710.71, with Apple leading advancers and Nike the greatest laggard.
The S&P 500 moved up 20.33 points, or 1%, to 2,066.94, with energy leading nine sectors higher and utilities the only decliner.
The NASDAQ Composite rose 57.79 points, or 1.2%, to 4,775.46
Apple was trading more than 3.5% higher as the close approached, tracking for its best day since March 1. Earlier, the stock briefly climbed more than 4%, on pace for its best day since Jan. 22.
Pfizer is buying Anacor Pharmaceuticals in a $5.2-billion U.S. deal to add an eczema gel to its portfolio, just a month after plans to acquire Allergan fell apart.
In U.S. economic news, the Empire State Manufacturing report was minus 9.02 in May versus positive 9.56 in April.
Home builder confidence was unchanged for a fourth-straight month, at 58 in May according to the National Association of Home Builders.
Prices for the 10-year Treasury dropped, raising yields to 1.75% from Friday’s 1.7%. Treasury prices and yields move in opposite directions.
Oil prices hiked $1.67 a barrel to $47.88 U.S.
Gold prices gained $1.11 to $1,274.56 U.S. an ounce.
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