Stocks in Canada’s largest centre remained positive on Monday, bolstered by robust gains across most of the index's key sectors including financial and energy stocks, which were helped by higher crude oil prices.
The S&P/TSX composite index was stronger by 112.94 points to greet noon at 13,759.84
The Canadian dollar moved lower 0.15 cents at 75.48 cents U.S.
Canadian banks, which have a significant stake in the country's oil and gas industry, have often seen their fortunes move in tandem with crude prices in recent months. Crude rose on Monday following U.S. drilling data that showed activity had slowed.
Toronto-Dominion Bank was among the gainers carrying the most weight, rising 1.4% to $52.40.
The rebound follows Friday's 1% loss following the Federal Reserve's decision to stand pat on raising U.S. interest rates amid concerns about global economic growth.
Canadian National Railway climbed 2.5% to $76.57 and was another top gainer.
Enbridge Inc shares bounced 2.7% to $52.47
On the economic calendar, Statistics Canada reported that wholesale trade –was unchanged in July at $55.4 billion. The agency said higher sales in three sub-sectors, representing 52% of wholesale sales, were offset by lower sales in other sub-sectors.
ON BAYSTREET
The TSX Venture Exchange moved up two points to 551.91
Nine of the 14 TSX subgroups were higher by noon, led by industrials, improving 1.9%, energy, better by 1.6%, and real-estate, surging 1.4%.
The five laggards were weighed mostly by metals and mining, slumping 4.3%, materials, sinking 1.1%, and health-care, down 0.8%.
ON WALLSTREET
U.S. stocks jumped more than 1% Monday, attempting to bounce from Friday's selloff, as investors continued to digest last week's rate hike decision and comments from several Federal Reserve speakers.
The Dow Jones industrial average was positive 78.14 points to 16,462.72—off its highs of the morning -- after Friday’s slump of nearly 300 points. Microsoft leding advancers and Merck was the only decliner.
The Dow transports also gained more than 1.5% as Alaska Air led all constituents higher.
The S&P 500 moved up 10.12 points to 1,968.15. Financials gained more than 1% as the greatest S&P sector advancer.
The NASDAQ index improved 13.71 points to 4,840.93
Health-care lagged as biotech stocks plunged on renewed attention on controversy over large price increases on certain drugs.
The New York Times reported Monday how a firm raised the price of one drug from $13.50 U.S. a tablet to $750 U.S. overnight. The news prompted presidential candidate Hillary Clinton to tweet she would outline a plan Tuesday to take on price gouging.
Ahead of other housing data due in the week, August existing home sales fell more than expected to an annual rate of 5.31 million, a 4.8% drop.
Greece is also in focus following an election on Sunday in which Alexis Tsipras' left-wing Syriza party returned to power with an unexpected election win, with a mandate to implement a bailout plan.
Prices for 10-year U.S. Treasuries sank, lifting yields to 2.20% from Friday’s 2.13%. Treasury prices and yields move in opposite directions.
Oil prices popped $1.46 a barrel to $46.14 U.S.
Gold prices slid $5.70 to $1,132.10 U.S. an ounce.
