Indices in Toronto advanced on Monday to their highest in nearly three years, with higher commodity prices driving gains in natural resource shares and stronger-than-expected German data helping lift the overall mood.
The S&P/TSX composite index was up 59.53 points to reach noon at 14,265.25.
Gold-mining shares benefited from the fortunes of firms like Barrick Gold, which advanced 0.5% to $23.40, and Goldcorp was up 0.3% at $30.77.
Shares of energy producers jumped 1%. Suncor Energy added 1% to $37.02, and Canadian Natural Resources Ltd rose 1.2% to $41.63.
Investors were also turned their attention to the major Canadian banks, which will begin unveiling quarterly results this week. Bank of Montreal will report on Tuesday.
Financials were up slightly, with Bank of Nova Scotia climbing 0.5% to $63.62.
In corporate news, BlackBerry shot up 7%, to $10.88, after the smartphone maker said it will make its messaging service BBM available to Microsoft's Windows Phone and the upcoming Nokia X platforms in the coming months.
Economically speaking, data for February showed an improvement in German business morale, which beat market expectations and hit its strongest level since July 2011.
Closer to home, Statistics Canada will release growth data for December and the fourth quarter on Friday. Economists looked for the economy to contract by 0.3% in December, largely because of crippling ice storms in Ontario and Quebec towards the end of the month.
Growth for the quarter is reckoned to come in at 2.5%
ON BAYSTREET
The TSX Venture Exchange inched up 0.11 points to 1,021.77.
All but four of the 14 Toronto subgroups were higher, led by energy stocks, up 1.3%, industrials improved 1%, and information technology picked up 0.9%
The four laggards were weighed mostly by global base metals, fading 0.5%, while metals and mining dipped 0.3%, and utilities fell 0.2%.
ON WALLSTREET
The S&P 500 touched a new record high early Monday as investors remain optimistic about the economy and corporate earnings.
The Dow Jones Industrial Average spiked 192.23 points, or 1.2%, to pause midday at 16,295.57
The S&P 500 index added 22.16 points to 1,858.41. The NASDAQ gained 47.26 points to 4,310.67
Investors have been encouraged by corporate profits that beat analysts' expectations. According to FactSet Research, 72% of the companies in the S&P 500 have reported earnings for the fourth quarter that topped analysts' expectations.
In the corporate world, Comcast said Sunday that it will allow Netflix to connect directly to its broadband network, allowing for faster streaming.
Activist investor Carl Icahn stepped up pressure on eBay to spin off PayPal, in an open letter to shareholders.
Shares of HSBC slid after the bank reported earnings that came in below expectations.
Shares of Groupon stabilized after taking a 22% dive Friday. Shareholders pressed the sell button last week after the company warned it was expecting to report a loss in the first quarter.
On the earnings front, Solar City and Live Nation will report after the closing bell.
Investors welcomed comments from global finance officials, who emphasized stimulating economic growth over austerity.
The G20 -- the world's 19 richest nations and the European Union -- pledged to install policies that will add $2 trillion U.S. to the world economy over the next five years. The group committed to "significantly raise global growth," according to a statement following a weekend meeting in Australia.
Prices for 10-year U.S. Treasuries slid slightly, lifting yields to 2.74% from Friday’s 2.73%. Treasury prices and yields move in opposite directions
Oil prices gained a full dollar to $103.21 U.S. a barrel.
Gold prices gained $13.70 to $1,337.30 U.S. an ounce.
