Markets in Toronto held on to sharp gains Monday, with mining and energy stocks climbing higher in the positive territory.
Toronto’s S&P/TSX composite index were off their highs of the day, but still ahead 122.15 points, to finish at 14,533.22
The Canadian dollar dumped 0.49 cents at 78.49 cents U.S.
All sectors moved higher, primarily metals and mining stocks, as Teck Resources rumbled forward 84 cents, or 7.5%, to $12.09, while First Quantum Minerals took on 90 cents, or 5.8%, to $16.48.
Health-care stocks also had a good day, as Valeant Pharmaceuticals climbed $4.77, or 1.6%, to $299.42.
Among consumer discretionary stocks, Restaurant Brands – owner of Tim Hortons – moved ahead $2.38, or 4.8%, to $51.63, while DHX Media popped 34 cents, or 3.6%, to $9.66.
Torex Gold Resources was the most actively traded stock, surrendering a penny to $1.10, on 7.1 million shares.
Oil prices had tumbled as Iran talks moved closer to a deal that would end sanctions and let more Iranian oil onto world markets. Greece's news helped pare some of those losses, however.
ON BAYSTREET
The TSX Venture Exchange added 2.49 points to 643.47
All 14 TSX subgroups moved higher, led by metals and mining, stronger by 4.4 %, global base metals, up 3%, and health-care, up 1.9%.
ON WALLSTREET
U.S. stocks closed more than 1% higher in light volume trade Monday, following gains overseas on news of a bailout agreement between Greece and its creditors.
The Dow Jones industrial average skyrocketed 217.27 points, or 1.2%, to 17,977.68, with Microsoft and DuPont leading most blue chips higher. The index recovered recent losses to hold nearly 0.9% higher for the year.
The S&P 500 picked up 22.92 points, or 1.1%, to 2,099.54. Boosting the index was a rise in information technology stocks and consumer discretionaries’ 1.5% gain to an all-time high.
The NASDAQ index jumped 73.16 points, or 1.5%, to 5,070.85, as Apple rose more than 1.5%.
Second-quarter earnings season gets underway with a slew of major reports on Tuesday that include JPMorgan Chase and Wells Fargo.
On the economic front, retail sales are due Tuesday morning. Federal Reserve chief Janet Yellen delivers her semi-annual testimony on the economy to Congress on Wednesday and Thursday.
European Council President Donald Tusk said early on Monday that euro-zone leaders reached a unanimous agreement with Greece after all-night talks in Brussels to move forward with a bailout loan for the cash-strapped nation, provided Athens implement tough reforms.
Prices for 10-year U.S. Treasuries dipped, raising yields to 2.44% from Friday’s 2.40%. Treasury prices and yields move in opposite directions.
Oil prices subsided 55 cents a barrel to $52.19 U.S.
Gold prices subtracted $1.20 at $1,156.70 U.S. an ounce.
