Canadian stocks settled sharply higher Friday, tracking rising global equity markets led by financial and resource stocks on some upbeat U.S. macroeconomic data and on optimism the Federal Reserve will continue its quantitative easing program undisturbed.
Uncertainty over the Fed's future course of action had triggered a sharp sell-off in global equities in recent weeks, with the Canadian main index tumbling to a two-month low last week, before recovering marginally.
In some upbeat economic news from the U.S., homebuilder confidence jumped more than expected in June, scaling a seven-year high. Meanwhile, conditions for New York manufacturers improved modestly in June with the index of activity in the sector climbing to positive territory, a Federal Reserve Bank of New York report said.
The S&P/TSX Composite Index closed Monday at 12,288.90, up 101.54 points or 0.83 percent. The index touched an intraday high of 12,325.81 and a low of 12,189.82.
The Global Gold Index gained 0.25 percent, although gold futures for August delivery dropped $4.50 or 0.3 percent to close at $1,383.10 an ounce Friday on the Nymex.
The Capped Materials Index added 0.45 percent, with Potash Corporation of Saskatchewan Inc.(POT.TO) gaining 0.56 percent.
Among gold stocks, Yamana Gold Inc. (YRI.TO) moved up 0.70 percent, while Goldcorp Inc. (G.TO) added 0.43 percent. IAMGOLD Corp. (IMG.TO) gained 1.14 percent, while Barrick Gold Corp. (ABX.TO) slipped 0.45 percent. Kinross Gold Corp. (K.TO) gathered 0.84 percent, while B2Gold Corp. (BTO.TO) surged 9.82 percent.
The Diversified Metals & Mining Index gathered 0.42 percent, with First Quantum Minerals Ltd. (FM.TO) up 0.18 percent and Teck Resources Limited (TCK_B.TO) up 0.04 percent. Lundin Mining Corp. (LUN.TO) gained 0.23 percent.
The Energy Index jumped 1.44 percent, although U.S. crude oil futures for July delivery dropped $0.08 or 0.1 percent to close at $97.77 a barrel Monday on the Nymex.
Among energy stocks, Suncor Energy Inc. (SU.TO) added 0.90 percent, while Canadian Natural Resources Limited (CNQ.TO) jumped 2.74 percent. Enbridge Inc. (ENB.TO) gathered 1.08 percent, while Talisman Energy Inc. (TLM.TO) gained 2.06 percent. Encana Corp. (ECA.TO) was up 0.76 percent, while Niko Resources (NKO.TO) shed 3.04 percent.
The Financial Index gained 0.84 percent with Manulife Financial Corp. (MFC.TO) up 1.91 percent, Bank of Nova Scotia (BNS.TO) was up 0.77 percent, and Bank of Montreal (BMO.TO) up 0.45 percent. Royal Bank of Canada (RY.TO) added 0.73 percent, while The Toronto-Dominion Bank (TD) gained 0.76 percent.
The Information Technology Index gathered 0.89 percent, with BlackBerry (BB.TO) down 0.48 percent.
The Capped Industrials Index moved up 0.11 percent, with Bombardier Inc. (BBD.A.TO, BBD.B.TO) up 0.43 percent. Air Canada (AC.B.TO) gained 3.63 percent.
Ithaca Energy (IAE.TO) rose 3.30 percent after a farm-out agreement with a subsidiary of Edison International SpA (EDIHF.PK) for a 25 percent interest in licenses containing the Handcross prospect and an agreement with Shell UK Limited concerning a license awarded in the 27th UK Offshore Licensing Round.
Forest products company Weyerhaeuser Co. (WY) agreed Sunday to acquire Longview Timber LLC from Canadian property manager Brookfield Asset Management, Inc. (BAM, BAM_A.TO) for $2.65 billion, including assumed debt. Shares of Brookfield gathered 2.61 percent.
In economic news, Statistics Canada said non-resident investors bought $14.9 billion of Canadian securities in April, adding both debt and equity securities to their holdings. Canadian investors added $2.8 billion of foreign securities, a third straight month of acquisitions. Foreign investment in Canadian securities was led by debt instruments, mainly reflecting private corporate bonds and the first acquisition of money market instruments in 2013. Canadian investment in foreign securities also focused on debt instruments in April.
In economic news from the U.S., the Federal Reserve Bank of New York said its general business conditions index rose to a positive 7.8 in June from a negative 1.4 in May, with a positive reading indicating an increase in regional manufacturing activity. Economists expected the index at a positive 0.5.
Separately, a report from the National Association of Home Builders showed the NAHB/Wells Fargo Housing Market Index soared to 52 in June from 44 in May. Economists expected the index to show a much more modest increase with a reading of 45. The index is at its highest level since hitting 54 in March of 2006.
Elsewhere, eurozone trade in goods with the rest of the world indicated a surplus in April, which was lower than a month earlier, data from Eurostat revealed. The trade surplus dropped to 14.9 billion euros in April from 22.5 billion euros in March. A year earlier, the surplus amounted to 3.3 billion euros. Exports grew 9 percent year-on-year in April, following a flat result in March. Imports rose 1 percent annually, recovering marginally from a 10 percent slump in the previous month.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.