Canada's main stock index rose on Monday after energy stocks climbed on firm crude oil prices, and were supported by a jump in health-care and financial stocks.
On the deals front, Tamarack Valley Energy fell eight cents, 2%, or $3.90, on saying it will buy oil producer Deltastream Energy in a deal valued at $1.425 billion making it the largest producer in Alberta's Clearwater County.
The TSX gained 178.67 points by noon hour to 19,952.01.
The Canadian dollar grew 0.25 cents to 77.03 cents U.S.
ON BAYSTREET
The TSX Venture Exchange climbed 8.92 points, or 1.4%, to 654.49
All but one of 12 TSX subgroups were higher by lunch time Monday, with energy rumbling 2%, industrials up 1.4%, and gold brighter 1.1%.
Only materials wallowed, dropping 0.6% midday.
ON WALLSTREET
Stocks rose on Monday as a weaker dollar and growing confidence that inflation has peaked helped Wall Street’s relief rally continue.
The Dow Jones Industrials raced 282.09 points to break for lunch at 32,433.80
The S&P 500 tacked 43.33 points, or 1.1%, to 4,110.69.
The NASDAQ Composite jumped 125.45 points, or 1%, to 12,237.76.
Top performers include American Express, Apple, Chevron and 3M.
The moves build on a rebound for U.S. stocks, as all three major averages snapped a three-week losing streak on Friday. The Dow added 2.6% last week, while the S&P 500 gained 3.7%. The NASDAQ Composite added 4.1%.
Stocks have been volatile ahead of the September 20-21 meeting of the Federal Reserve, where the central bank is expected to deliver its third consecutive 0.75 percentage point rate hike in an effort to combat high inflation.
Wall Street investors have been looking for signs that future rate hikes might be smaller as inflation cools off, but Fed Chair Jerome Powell last week reiterate
Treasury prices retreated Monday, raising yields to 3.3% from Friday’s 3.32%. Treasury prices and yields move in opposite direction.
Oil prices jumped $1.14 to $87.93 U.S. a barrel.
Gold prices shone brighter $12.40 to $1,741.00 U.S. an ounce.
