Investor optimism about economic reopenings pushed North American stock markets, crude oil prices and the loonie to nearly three-month highs.
The S&P/TSX composite index closed up 158.15 points to 15,394.36, the strongest level since March 6. It's 37.8 per cent off the March 23 low and just 14.3 per cent from February's record high.
He said markets are looking past the worst of the virus fears and anticipating a rebound as global markets start to reopen. "And from a TSX point of view, I think that's going to be something that we could start to see the TSX start to outform some of the other markets as this takes hold because Toronto has really lagged some global markets."
"Canada is still looked at as a bit of a petro currency and a petro economy and and having a stronger oil price is definitely better for for the Canadian economy," said Taylor. An 11.1 per cent gain by mall fast-food company MTY Food Group Inc. led consumer discretionary higher while the heavyweight financials sector gained 2.1 per cent with National Bank of Canada climbing 4.4 per cent.
The August gold contract was down US$16.30 cents at US$1,734.00 an ounce and the July copper contract was up 2.05 cents at US$2.49 a pound.
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