Stocks in Canada’s largest market warmed to the prospect of Britain staying within the European Union after this week’s votes are counted, and sprang to life in the day’s first hour.
The S&P/TSX Composite soared 85.26 points to open a new week at 13,987.03
The Canadian dollar marched ahead 0.67 to 78.23 cents U.S.
Kinross Gold has suspended activity at its Tasiast mine in Mauritania after the West African country ordered expatriates whose work permits were invalid to stop working.
Kinross shares retreated 36 cents, or 5.6%, to $6.06.
RBC raised the target price of Gran Tierra Energy to $6.00 from $4.75. Gran Tierra shares added 11 cents, or 2.7%, to $4.21.
BMO raised the price target on TransCanada Corp. to $62.00 from $59.00. TransCanada shares gained 22 cents to $55.81.
Economically speaking, Statistics Canada reported that wholesale sales edged up 0.1% to $54.8 billion in April, after two consecutive monthly declines.
Gains were recorded in three of seven sub-sectors, led by the miscellaneous sub-sector.
ON BAYSTREET
The TSX Venture Exchange dropped 1.88 points to 713.48
ON WALLSTREET
U.S. equities kicked off the week on the right foot Monday, trading sharply higher as Brexit concerned lessened and oil prices surged.
The Dow Jones Industrials hurtled 253.46 points, or 1.4%, to open Monday at 17,928.62, with Goldman Sachs and Boeing contributing the most gains.
The S&P 500 hiked 27.37 points, or 1.3%, at 2,098.60, with financials and energy leading the index higher.
The NASDAQ bolted higher 74.94 points, or 1.6%, to 4,875.28, as Apple traded higher.
A series of polls released over the weekend showed those in favour of the U.K. staying in the European Union held a slight lead over the "leave" camp. The campaign in favor of a Brexit lost momentum after Member of Parliament Jo Cox was killed last week.
Prices for the 10-year Treasury faded, raising yields to 1.67% from Friday’s 1.61%. Treasury prices and yields move in opposite directions.
Oil prices added 86 cents a barrel to $48.84 U.S.
Gold prices dropped $11.00 to $1,283.80 U.S. an ounce.
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