Equities in Canada’s biggest markets had centre stage all to themselves Monday, and rose to a three-week high as higher gold prices supported mining stocks, while financial and energy stocks also advanced.
The S&P/TSX Composite raced out of the starting blocks, acquiring 197.59 points, or 1.4%, to open the week at 14,262.13
The Canadian dollar leaped 0.34 cents to 77.8 cents U.S.
Metals and mining stocks led the charge, as First Quantum Minerals triumphed 80 cents, or 8.8%, to $9.87, while Teck Resources bolted higher $1.18, or 6.9%, to $18.19.
Gold stocks were also putting their best foot forward, as Kinross Gold climbed 54 cents, or 8.5%, to $6.88, while Yamana Gold prospered 46 cents, or 6.9%, to begin the day at $7.18.
Elsewhere, a U.S. grand jury has charged a Spanish investor with lying to regulators probing insider trading ahead of an August 2010 hostile bid for Potash Corp of Saskatchewan, even though he had been cleared of charges over his own trading.
Potash shares gained 47 cents, or 2.2%, to $21.47.
National Bank Financial raised the target price on Toromont Industries to $42.00 from $38.00 based on the management that is focused on capital allocation and a healthy balance sheet.
Toromont shares tacked on $1.11, or 2.9%, to $38.75.
Oil prices eked up three cents to $49.20 U.S.
Gold stocks shot higher $15.20 to $1,354. 20 U.S.
ON BAYSTREET
The TSX Venture Exchange rocketed 12.77 points, or 1.8%, to 743.21
All 13 subgroups were higher in the first hour, as metals and mining jumped 6.1%, materials popped 4.5%, and gold glistened 3.2% brighter.
ON WALLSTREET
American markets are closed for the 4th of July holiday, to reopen Tuesday.
