Advertisment Equities in Canada’s largest centre rallied to a almost four-week high on Monday, led by mining stocks as gold and silver climbed, while financial and energy stocks also advanced.
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The Nasdaq composite gained 17.57 points to 4,840.48.
The Canadian bonds have been closely following developments in oil markets due to their impact on inflation expectations, which are well below the Bank of Canada’s target.
USA indexes gained more, with the Federal Reserve expecting to hold off on raising US interest rates even as the country’s economy regains steam.
Silver Wheaton Corp rallied 6.2% to $32.28 and Barrick Gold climbed 5.1% to $28.98, while the overall materials group, which includes precious and base metals miners and fertilizer companies, added 4.7%.
The S&P/TSX composite index was up 194.33 points at 14,258.87 after being closed Friday for Canada Day.
Spot gold rose 0.6 percent, while silver was up 2.8 percent. It touched its highest since June 8 at 14,291.62.
Lastly, Stock futures pointed to a lower opening for Canada’s main stock index on Tuesday as concerns about a potential slowdown in economic growth weighed on investor sentiment.
The loonie was at 76.69 cents in late morning trading, down 0.14 of a cent.
Gold stocks shot higher $14.90 to $1,353.90 U.S.
September futures on the S&P TSX index were down 0.52 percent at 7:15 a.m. ET.
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USA crude prices were unchanged at $48.99 a barrel.
