Equities in Canada’s biggest centre moved smartly out of the blocks on Monday, with Toronto-Dominion Bank and Teck Resources Ltd leading broad gains across most sectors.
The S&P/TSX Composite Index jumped 64.16 points to start a new week at 15,611.91
The Canadian dollar faded 0.31 cents at 74.78 cents U.S.
TD shares gained 54 cents to $67.51, while Teck leaped $1.86, or 6.4%, to $30.94.
Bombardier Chief Executive Alain Bellemare requested the board to defer the payment of more than half of the total planned 2016 compensation for its six named executive officers until 2020, amid public outcry over pay rises.
Bombardier shares dropped a penny to $2.03.
Cenovus Energy's $3-billion equity offering to partly fund its planned $17.7-billion acquisition of some of ConocoPhillips Co's Canadian assets has reportedly been fully subscribed.
Cenovus shares picked up 12 cents to $15.17.
BMO cut the rating on Atco Ltd. to underperform from market perform. Atco shares faded 71 cents, or 1.3%, to $51.00.
CIBC cut the rating on Extendicare to neutral from outperform. Extendicare shares surrenderd 10 cents, or 1%, to $9.99.
On the economic slate, the seasonally-adjusted Markit Canada Manufacturing Purchasing Managers’ Index rose to 55.5 in March from 54.7 in February, to remain above the crucial 50.0 no-change value for the 13th consecutive month.
ON BAYSTREET
The TSX Venture Exchange surged 6.6 points to 822.37
All but three of the 12 TSX subgroups began the day in positive territory, with materials surging 0.7%, with financials and gold each gaining 0.4%.
The three laggards were utilities, down 0.2%, health-care, sagging 0.1%, and consumer staples, listing lower 0.04%.
ON WALLSTREET
The Dow Jones Industrials gained 20.65 points to begin Monday at 20,683.87, with UnitedHealth contributing the most gains.
The S&P 500 inched 2.51 points to 2,365.23, with materials outperforming and utilities lagging.
The NASDAQ Composite strengthened 17.12 points to 5,928.85
The Institute for Supply Management manufacturing index read for March is scheduled for release at 10 a.m. ET, along with February construction spending data. Monthly auto sales numbers will also be released throughout the day.
Wall Street also prepared itself for a meeting between President Donald Trump and Chinese President Xi Jinping on Thursday and Friday. The two leaders are expected to discuss trade and North Korea, among other subjects.
Prices for the benchmark 10-year Treasury note gained, lowering yields to 2.39% from Friday’s 2.4%. Treasury prices and yields move in opposite directions.
Oil prices were unchanged at $50.60 U.S. a barrel
Gold prices dropped $2.50 at $1,248.70 U.S. an ounce.
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