Equities in Toronto rose midday Monday, with financial and energy stocks leading a broad rally as investors returned to equity markets on rising expectations that Britain will vote to remain in the European Union later this week.
The S&P/TSX Composite zoomed higher 140.08 points, or 1%, to greet noon at 14,041.85
The Canadian dollar remained positive 0.49 to 78.05 cents U.S.
The most influential movers on the index included its biggest bank by market capitalization, Royal Bank of Canada , which rose 1.4% to $78.69, and pipeline company Enbridge Inc, which added 1.8% to $53.62.
RBC plans further expansion in the United States following its $5-billion acquisition of Los Angeles-based City National in November.
Gold miners were among the biggest drags, as the precious metal fell with other perceived safe-haven assets after polls suggesting Britain's "remain" campaign had regained some momentum ahead of Thursday's referendum.
Kinross Gold Corp shed 4.8% to $6.12. The miner suspended activity at its Tasiast mine in Mauritania after the West African country ordered expatriates whose work permits were invalid to stop working.
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 2.13 points to 713.23
All but one of the 13 subgroups were above breakeven by midday, metals and mining picking up 3.2%, energy up 1.9%, and health-care soaring 1.6%.
Gold proved the lone holdout, sinking 0.7%.
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 gained 189.22 points, or 1.1%, to 17,864.38, with Goldman Sachs and Boeing contributing the most gains, after rising more than 270 points at session highs.
The S&P 500 hiked 21.71 points, or 1.1%, at 2,098.60, with consumer discretionary leading the index higher.
The NASDAQ bolted higher 70.19 points, or 1.5%, to 4,870.86, 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 $1.32 a barrel to $49.30 U.S.
Gold prices dropped $6.70 to $1,288.10 U.S. an ounce.
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