TSX Ends Nearly 300 Pts Up As Stocks Rally Ahead Of Inflation Data

(RTTNews) - The Canadian market ended on a strong note on Monday with its benchmark S&P/TSX Composite Index recording its biggest increase in about seven weeks. Shares from energy, utilities, real estate, financials and consumer staples sectors turned in a fine performance.

Investors picked up stocks ahead of Canada's consumer price inflation data, due on Tuesday.

The S&P/TSX Composite Index ended with a gain of 293.73 points or 1.36% at 21,848.59. The index touched a low of 21,585.30 and a high of 21,866.93 in the session.

The Energy Capped Index climbed 3.42%. Africa Oil Corp (AOI.TO) soared 10.4%. Birchcliff Energy gained about 6.5%. Athabasca Oil Corp (ATH.TO), Tamarack Valley Energy (TVE.TO), Nuvista Energy (NVA.TO), Precision Drilling Corp (PD.TO), Baytex Energy (BTE.TO), Kelt Exploration (KEL.TO), Veren Inc (VRN.TO), Headwater Exploration (HWX.TO), International Petroleum (IPCO.TO) and Arc Resources (ARX.TO) gained 4 to 6%.

Utilities stocks Brookfield Renewable Partners (BEP.UN.TO), Brookfield Infra Partners (BIP.UN.TO), Algonquin Power (AQN.TO), Emera Corporated (EMA.TO), Innergex Renewables (INE.TO), Boralex (BLX.TO), Fortis (FTS.TO) and Canadian Utilities (CU.TO) advanced 2 to 5%.

In the financials section, Onex Corp (ONEX.TO) and EQB Inc (EQB.TO) climbed 3.77% and 3.1%, respectively. Laurentian Bank (LB.TO), Royal Bank of Canada (RY.TO), Fairfax Financial Holdings (FFH.TO), Toronto-Dominion Bank (TD.TO), Manulife Financial (MFC.TO), Canadian Imperial Bank of Commerce (CM.TO) and Power Corporation of Canada (POW.TO) gained 1.5 to 2.3%.

Consumer staples stocks George Weston (WN.TO), Saputo Inc (SAP.TO), Premium Brands Holdings Corp (PBH.TO) and Maple Leaf Foods (MFI.TO) climbed 2.4 to 3.3%. Metro Inc (MRU.TO) gained nearly 2%.

Several stocks from consumer discretionary, communications, materials and healthcare sectors too ended notably higher. Industrials and technology stocks turned in a mixed performance.