(RTTNews) – The Canadian market moved firmly into positive territory on Monday afternoon, as stocks across multiple sectors rallied sharply amid sustained buying interest ahead of key economic data and speeches from Federal Reserve officials.
Energy shares led the advance, boosted by higher crude oil prices. Other sectors showing notable gains included utilities, communications, real estate, financials, and consumer discretionary stocks.
The benchmark S&P/TSX Composite Index rose 228.60 points, or 1.06%, to close at 21,783.46.
Precision Drilling Corporation (PD.TO) gained 5%, while Tourmaline Oil Corp (TOU.TO) rose 3.6%. Onex Corporation (ONEX.TO), Imperial Oil (IMO.TO), George Weston (WN.TO) and EQB Inc (EQB.TO) each advanced between 2.5% and 3.1%.
Other notable gainers included Intact Financial Corporation (IFC.TO), Royal Bank of Canada (RY.TO), Franco-Nevada Corporation (FNV.TO), Fairfax Financial Holdings (FFH.TO) and TFI International (TFII.TO).
Declining stocks included Quebecor Inc (QBR.TO), which fell nearly 7%, and Celestica Inc (CLS.TO), down approximately 4.7%. Bombardier Inc (BBD.B.TO), Shopify Inc (SHOP.TO), Cameco Corporation (CCO.TO), West Fraser Timber (WFG.TO) and goeasy (GSY.TO) each slid between 1.3% and 3%.