Canada's main stock index bounced back from last week's sell-off to open higher on Monday, tracking gains in global stocks,
The S&P/TSX Composite Index recovered 79.78 points to open Monday and the week at 14,968.04
The Canadian dollar shed 0.11 cents to 76.24 cents U.S.
Sources say Bank of Nova Scotia has hired four people for its metals business in New York after losing six traders and salesmen who defected to rival Canadian lender Bank of Montreal last month.
Scotiabank shares gained 51 cents to $70.50, while BMO shares picked up 57 cents to $99.43.
CIBC raised the price target on Aecon Group to $21 from $20. Aecon shares galloped 37 cents, or 2%, to $18.54.
Canaccord Genuity raised the price target on Interrent REIT to $13.5 from $12.00. Units of Interrent shares gathered 16 cents, or 1.3%, to $12.47.
Jefferies cut the price target on Roots Corp. to $11.00 from $14.00. Roots shares were unchanged at $5.42.
ON BAYSTREET
The TSX Venture Exchange doffed 0.53 points to 643.05
All but three of the 12 subgroups were higher, with consumer discretionary shares headed higher 1.8%, information technology adding 1.7%, and communications climbing 1.1%.
The three decliners were health-care, down 2%, energy, 0.6% less energetic, and gold, dulling in price 0.1%.
ON WALLSTREET
Stocks traded sharply higher on Monday as investors try to regain their footing amid steep losses this month. Sentiment was also lifted by a big acquisition in the tech space.
The Dow Jones Industrials restocked 312.86 points, or 1.3%, to 25,001.17, as Merck outperformed.
The S&P 500 recovered 43.5 points, or 1.6%, to 2,702.19, led by strong gains in tech, financials and materials.
The NASDAQ heightened 116.9 points, or 1.6%, to 7,284.11, boosted by gains in Facebook, Amazon, Netflix and Google-parent Alphabet.
Monday's moves come after a 3% drop on the Dow last week, which was capped off by a decline of nearly 300 points on Friday. The S&P 500 dropped 3.9%, and NASDAQ declined 3.8%.
Worries over a possible slowdown in corporate earnings growth, as well as in the global economy, have sent the major indexes down sharply this month. The Dow has given back 6.7%, and S&P 500 is down 8.8% for October. The NASDAQ, meanwhile, has lost 10.9% through Friday's close.
U.S. stocks also got a boost after IBM agreed to buy Red Hat, an open-source software distributor, for around $34 billion. Red Hat shares surged nearly 50% on the deal, while IBM's stock fell more than 5%.
Prices for the benchmark for the 10-year U.S. Treasury slumped, raising yields to 3.11% from Friday’s 3.08%. Treasury prices and yields move in opposite directions.
Oil prices sank 51 cents at $67.08 U.S. a barrel.
Gold prices dipped $4.30 an ounce to $1,231.50
