Markets achieved a seven-month high on Tuesday, led by financial stocks ahead of the release of quarterly earnings by some of the country's major banks this week.
The S&P/TSX Composite Index rose 86.2 points to open a short week at 14,005.78
The Canadian dollar dipped 0.01 cents to 76.08 cents U.S.
Canadian markets were shuttered Monday for the Victoria Day holiday.
Video conferencing equipment maker Polycom Inc said on Monday it received a revised proposal from a private equity firm that could be superior to an offer from Mitel Networks Corp.
Mitel shares rocketed 59 cents, or 7.4%, to $8.59.
Paradigm starts coverage on Brick Brewing Co. with a buy rating, and a $2.75 price target. Brick shares added two cents to $2.23.
NBF raised price target on IAG to $42.00 from $40.00, with a sector perform rating. IAG shares jumped 79 cents, or 1.9%, to $42.65.
NBF raised the price target on Sun Life Financial to $47 from $44.00, with an outperform rating. Sun Life shares gained 58 cents, or 1.3%, to $45.35.
ON BAYSTREET
The TSX Venture Exchange slid 3.62 points to 682.52
Nine of the 13 TSX subgroups started the day ahead, as consumer staples gathered 1.5%, financials picked up 1.3%, and information technology stocks were stronger by 1.1%
The four laggards were weighed most by gold, down 3.3%, materials, sliding 2.1%, and metals and mining, off 0.6%.
ON WALLSTREET
U.S. stocks traded higher Tuesday, following gains in European stocks, amid domestic data releases.
The Dow Jones Industrials flew 190.69 points, or 1.1%, to 17,683.62, with Goldman Sachs contributing the most to gains as nearly all constituents rose
The S&P 500 was positive 18.31 points, or 1.1% to 2,066.35. Financials traded more than 1% higher to lead all S&P 500 sectors higher.
The NASDAQ Composite leaped 61.75 points, or 1.4%, to 4,827.53,
In corporate news, Toll Brothers reported quarterly revenue that jumped nearly 31%, beating analysts' estimates, as the company sold more luxury homes at higher prices, mainly in California.
The stock held more than 6% higher in mid-morning trade
Prices for the 10-year Treasury fell back, raising yields to 1.87% from Monday’s 1.86%. Treasury prices and yields move in opposite directions.
Oil prices regained 29 cents a barrel to $48.37 U.S.
Gold prices plummeted $13.13 to $1,236.00 U.S. an ounce.
