Canada's main stock index climbed on Monday as an easing of tensions in Ukraine helped drive up shares of all major sectors.
The S&P/TSX composite index gained 89.13 points to greet noon ET at 15,285.44
The Canadian dollar climbed 0.31 cents at 91.46 cents U.S.
Financials rose as Toronto Dominion Bank gained 0.7% to $55.99, and Bank of Nova Scotia added 0.6% to $71.99. The two stocks had the biggest positive influence on the market.
Shares of energy producers received support from higher oil prices. Enbridge advanced 1.1% to $54.06, and Encana was up 0.5%, at $23.92.
An announcement by Russia late last week that it had ended military exercises near the Ukraine border has boosted global equity markets.
On the economic slate, Canada Mortgage and Housing Corporation said housing starts increased to a seasonally adjusted annual pace of 189,784 in July, compared with 185,952 in June.
ON BAYSTREET
The TSX Venture Exchange gained 3.81 points to 1,001.28
All but one of the 14 Toronto subgroups were up midday, with consumer staples and industrials each up 1.2%, and global base metals surging 1.1%
Only health-care stocks were negative, and 0.7% at that.
ON WALLSTREET
U.S. stocks rose broadly on Monday, extending Friday's sharp rally as recent uncertainty pertaining to Ukraine and the Middle East appeared to ease, while Priceline rallied on its results.
The Dow Jones Industrials acquired 52.90 points to 16,606.83
The S&P 500 picked up 10.97 points to 1,942.56. The NASDAQ composite tacked on 39.44 points to 4,410.34.
Priceline Group Inc rose 2.6% to $1,314.98 U.S. after the company reported a 26 percent rise in second-quarter revenue, though it also forecast third-quarter earnings below expectations. Expedia Inc rose 3.9% to $85.79 U.S.
Kinder Morgan Inc on Sunday said it would put all its publicly traded units under one roof in a $70-billion U.S. deal, an amount including $27 billion U.S. in assumed debt. Shares jumped 8.7% to $39.26 U.S.
Among its units, Kinder Morgan Management surged 23.5% to $95.10 U.S. while Kinder Morgan Energy Partners LP was up 17% to $93.99 U.S.
MannKind Corp rose 12 percent to $9.09 U.S. after French drugmaker Sanofi signed a worldwide licensing agreement with the company worth up to $925 million U.S.
Chiquita Brands International Inc climbed 31% to $13.21 U.S. in its biggest one-day advance since its 2002 trading debut after Juice maker Cutrale Group and Brazilian investment firm Safra Group offered to buy the company.
The United States recently launched air strikes in Iraq targeting Islamic State fighters marching on the country's Kurdish capital. The U.S. is also pushing for a new Iraq government, which Prime Minister Nuri al-Maliki has been battling to prevent, deploying forces across Baghdad as some parliamentary allies sought a replacement.
Separately, Israel and the Palestinians agreed on Sunday to an Egyptian proposal for a new 72-hour ceasefire in Gaza.
Prices for 10-year U.S. Treasuries regained lost ground, putting yields back to Friday’s 2.42%. Treasury prices and yields move in opposite directions.
Oil prices gained 54 cents to $98.19 U.S. a barrel.
Gold prices dropped $2.20 at $1,308.80 U.S. an ounce.
