Stocks Rally As FBI Clears Hillary, Oil Rebounds -- Canadian Commentary

(RTTNews) - Canadian stocks rose Monday, trimming last week's losses as Hillary Clinton was cleared at the last minute by the FBI in her lingering email scandal.

Markets may cheer a Clinton win tomorrow as she represents the status quo and supports international trade.

Rebounding oil prices also helped fuel today's rally.

The S&P/TSX Composite Index was up 143.20 points, or 0.99 percent, to 14,652.45.

Dec. WTI oil gained 82 cents, or 1.9%, to settle at $44.89/bbl.

OPEC's chief insists Russia, the world's biggest energy producer, is "on board" with the cartel's plan to limit crude oil production.

Air Canada (AC.TO) profit jumped more than 75 percent on higher passenger traffic. Shares rose 7.5 percent.

Struggling drug maker Concordia (CRX.TO) reported third quarter revenue of $185.5 million, a decrease of 19.9% compared with the second quarter of 2016.

Concordia is suspending guidance as the company assesses the business under new leadership. Shares plunged 37 percent.