Canada's main stock index opened higher on Monday, led by gains in energy shares on the back of higher oil prices.
The S&P/TSX Composite Index rebounded 100.28 points to begin Monday and the week at 16,096.49
The Canadian dollar recovered 0.08 cents at 74.59 cents U.S.
CGI Inc. said it made a 4.32-billion-Swedish-crown ($459-million U.S.) cash offer for Swedish peer Acando.
CGI gained 72 cents to $88.98.
North American energy traders are reluctant to take up long-term positions on Canadian crude price moves, preferring to stick to spot deals, as uncertainty around government intervention in the market is growing following delays to Enbridge's Line 3 oil pipeline project.
Enbridge shares rocketed 58 cents, or 1.1%, to $48.75.
Credit Suisse raised the rating on Hudbay Minerals to outperform from neutral. Hudbay shares took on 27 cents, or 3%, to $9.14.
Desjardins raised the rating on OceanaGold to buy from hold. OceanaGold inched up two cents a share to $4.45.
CIBC cut the rating on Yangarra Resources to neutral. Shares in Yangarra declined three cents, or 1.1%, to $2.78.
ON BAYSTREET
The TSX Venture Exchange gained 2.14 points to 620.22
All but one of the 12 TSX subgroups started the session higher, as utilities and energy each climbed 1.2%, while information technology clicked 1.1% higher.
Only real-estate, listing lower 0.01%, missed out on the festivities.
ON WALLSTREET
The S&P 500 and NASDAQ Composite opened higher on Monday as they got a boost from tech shares like Apple and Facebook.
The Dow Jones Industrial Average faded 16.31 points to begin Monday at 25,433.93, as shares of Boeing dragged down the 30-stock index.
The S&P 500 advanced 18.68 points to 2,761.75, as the tech sector climbed more than 1%.
The NASDAQ Composite climbed 79.15 points, or 1.1%, to 7,487.30.
Boeing fell more than 9% after a flight crash on Sunday that involved the 737 MAX 8 jet. This is the second crash in less than six months involving that model.
Boeing's decline shaved off more than 300 points from the Dow, given the index's price-weighted nature and the stock's high price relative to other Dow components. In other words, the Dow would be positive along with the S&P 500 and NASDAQ if not for Boeing's decline.
Apple shares rose more than 2.5% after Bank of America Merrill Lynch upgraded the stock to buy from neutral, noting the company's recent pullback presents "opportunity." The bank also raised its 12-month price target to $210 per share from $180.
Facebook also gained more than 2% after Nomura Instinet upgraded it to buy from neutral. In a note to clients, analyst Mark Kelley said consumers are transitioning to Facebook's Stories format and its increased focus on messaging. Kelley also hiked his price target to $215 per share from $172.
Monday's moves come after the major indexes posted their worst weekly performances of 2019 amid growing concerns of a possible economic slowdown around the world.
Prices for the benchmark 10-year U.S. Treasury stood still, keeping yields at Friday’s 2.63%.
Oil prices took on 84 cents to $56.91 U.S. a barrel.
Gold prices declined $5.60 to $1,293.70 U.S. an ounce.
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