Equities in North America from Friday’s fiasco, posting double-digit gains, as energy stocks powered the big board in Toronto.
The TSX Composite Index gained 350.76 points, or 2.8%, to 13,038.50.
The Canadian dollar toppled 0.41 cents at 70.66 cents U.S.
Energy stocks fired on all cylinders Monday, with MEG Energy climbing 25 cents, or 20.5%, to $1.47, and Canadian Natural Resources up $2.39, or 17.9%, to $15.71.
Among tech firms, also flexing muscle, was Celestica, vaulting 30 cents, or 6.5%, to $4.95, while OTEX Corporation hiked $2.47, or 5.4%, to $$48.42.
Utilities soared, with ATCO picked up $2.38, or 6.8%, to $37.52, while Emera added $3.00, or 5.9%, to $2.38.
Gold miners, however, endured a journey downward, as B2Gold doffed 25 cents, or 5.4%, to $$4.35, while Kirkland Lake Gold let go of $1.88, or 4.2%, to $42.70.
In the real-estate sector, Brookfield Property Partners L.P. lost 57 cents, or 4.7%, to $11.70, while Summit Industrial Income REIT gave up 36 cents, or 4.2%, to $8.14.
Hexo Corp fell 40 cents, or 26.1%, the most on the TSX, to $1.13, after the company posted second-quarter results. Aurora Cannabis docked 19 cents, or 13%, to $1.27.
ON BAYSTREET
The TSX Venture Exchange fell 2.03 points to 386.55.
Eight of the 12 TSX subgroups gained ground, with energy gushing 11.8%, information technology took on 4%, and utilities gathered 3.3%.
The four laggards were weighed most by gold, down 1.6%, real-estate, fading 1.3%, and health-care, sliding 0.5%.
ON WALLSTREET
Stocks rose on Monday, building on a strong rally from last week as the U.S. extended measures to contain the coronavirus outbreak.
The Dow Jones Industrials sprang to life 690.70 points, or 3.2%, to 22,327.48
The broader S&P 500 regained 85.18 points, or 3.4%, to 2,626.65,
The NASDAQ climbed 271.77 points, or 3.6%, to 7,774.15.
The Dow is now up 20% from its coronavirus selloff low reached on Monday while the S&P 500 has risen more than 17% from those levels.
The NASDAQ has bounced more than 13%.
Tech stocks such as Microsoft, Alphabet and Amazon led the way higher for Wall Street. Microsoft jumped more than 7% while Alphabet took on 3.3%, and Amazon climbed 3.4%.
President Donald Trump said at a news conference Sunday the national social distancing guidelines have been extended to April 30, adding the death rate from the virus would peak in two weeks. These measures, while they may cause a sharp economic disruption in the near term, are seen by some investors as preventing long-term damage to the economy.
Sentiment was also lifted after Johnson & Johnson said it identified a lead vaccine candidate for the coronavirus. The company noted that human testing on the potential vaccine will begin in September. J&J shares climbed 8%.
Data compiled by Johns Hopkins University shows more than 713,000 coronavirus cases have been confirmed globally. The U.S. overtook Italy and China last week as the country with the most cases with over 136,000. Nearly half of all U.S. cases come from New York, where more than 59,000 people have been infected.
Prices for the 10-Year U.S. Treasury dawdled late in the day, hiking yields to 0.71% from Friday’s 0.69%. Treasury prices and yields move in opposite directions.
Oil prices dipped $1.35 to $20.16 U.S. a barrel.
Gold prices ditched $12.70 to $1,641.40 U.S. an ounce.
