The TSX Composite Index recouped 62.91 points to open the day, week and month at 17,381.40.
The Canadian dollar nicked up 0.01 cents to 75.53 cents U.S.
The largest percentage gainers on the TSX were Lightspeed POS Inc, which jumped $1.08, or 2.5%, to $44.08, and Open Text, which rose $2.02, or 3.4%, to $61.58.
Semafo fell 15 cents, or 5.4%, the most on the TSX, to $2.64, while OceanaGold Corp was the second biggest decliner, down 12 cents, or 4.5%, to $2.64
Eco Atlantic, U.K.'s Tullow Oil and France's Total SA will meet early this month to assess recent drilling results and set budgets and targets for their jointly operated Orinduik block offshore Guyana.
Eco shares took on two cents, or 2.7%, to 75 cents.
Scotiabank cut the target price on Air Canada to $58.00 from $60.00. Air Canada shares gained 49 cents, or 1.1%, to $44.82.
JPMorgan raised the target price on Canadian Pacific Railway to $380.00 from $357.00. CP shares chugged along $1.68 to $353.23.
JPMorgan cut the target price on Imperial Oil to $35.00 from $37.00. Imperial shed 29 cents to $31.09.
On the economic slate, the IHS Markit Canada Manufacturing Purchasing Managers’ Index registered 50.6 in January, up slightly from December's four-month low of 50.4.
ON BAYSTREET
The TSX Venture Exchange gained 0.73 points, to 575.91.
All but three of the 12 TSX subgroups progressed, as information technology ticked higher 1.5%, health-care improved 0.9%, and industrials were up 0.7%.
The three laggards were gold, down 0.6%, while materials and energy each faded 0.5%.
ON WALLSTREET
Stocks rose on Monday as Wall Street regained its footing after coronavirus fears sparked a steep selloff to close out January.
The Dow Jones Industrials regained 324.94 points, or 1.2%, to 28,580.97, staging a small recovery from Friday’s selloff, their worst since August.
The S&P 500 gained 35.87 points, or 1.1%, at 3,261.39
The NASDAQ hiked 127.02 points, or 1.4%, to 9,278.78.
Nike led the Dow higher with a 4.3% rise after analysts at UBS and JPMorgan recommended buying the stock on coronavirus-related weakness. JPMorgan called this recent pullback a “multi-year buying opportunity.”
The major averages reached their session highs after the Institute for Supply Management said its manufacturing gauge showed activity in the sector expanded. Economists polled by Dow Jones expected a contraction in manufacturing activity for January.
The death toll in China from the coronavirus reached 361 on Sunday, surpassing that of the SARS virus which lasted from 2002 to 2003, while a first death outside of China was reported in the Philippines.
Prices for the 10-Year U.S. Treasury plummeted, shooting yields up to 1.57% to from Friday’s 1.51%. Treasury prices and yields move in opposite directions.
Oil prices ditched three cents to $51.53 U.S. a barrel.
Gold prices cowered $11.80 to $1,576.10 U.S. an ounce.
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