Equities in Canada’s largest market surged on Monday, after U.S. President Donald Trump extended the deadline for European Union trade talks, providing a brief respite to investor concerns over his erratic trade policies.
The TSX Composite Index popped 193.18 points to 26,073.13.
The Canadian dollar gained 0.01 cents to 72.79 cents U.S.
The sweeping tariffs imposed by Trump since April 2 and the subsequent pauses on some of them have generated uncertainty among investors and companies globally.
Global market sentiment had steadied after Washington's fresh deal with the U.K. and a temporary agreement with China, but Trump's latest move was a reminder that the tariff storm isn't over.
In Canada, energy stocks gained, though oil prices were about flat. IPCO soared 70 cents, or 3.7%, to $19.99, while those for Veren Inc. climbed 34 cents, or 3.9%, to $9.14.
Elsewhere, tech shares ruled the roost as Tecsys hiked $1.61, or 3.9%, to $42.73, while Coveo Solutions perked 24 cents, or 3.5%, to $7.13.
In the real-estate sector, Colliers International took on $4.45, or 2.7%, to $166.63, while units of Allied Properties REIT moved ahead 25 cents, or 1.7%, to $15.20.
Consumer discretionary stocks prospered, as Aritzia gained $3.02, or 4.7%, to $67.02, while BRP Inc. captured $1.96, or 4.7%, to $51.22.
ON BAYSTREET
The TSX Venture Exchange gained 11.11 points, or 1.6%, end a day of light trading on Monday at 697.77.
All 12 TSX subgroups were in the green on the day, led by information technology, ahead 1.7%, real-estate, up 1.5%, and consumer discretionary stocks, better by 1.1%.
Oil prices slipped three cents to $61.56 U.S. a barrel.
Gold dropped $28.00 to $3,337.80
ON WALLSTREET
Indexes in the U.S. are closed Monday for Memorial Day.
