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TSX Ends Higher On Positive Global Cues, Oil Prices

The Canadian stock market ended on a bright note on Monday, after staying positive right through the session on strong global cues and higher crude oil prices.

Energy and information technology shares led the market higher. Shares from industrials, healthcare, materials and consumer discretionary sections gained as well. Bank stocks too found support after a sluggish start.

The benchmark S&P/TSX Composite Index ended up 110.03 points, or 0.69%, at 16,106.24, after scaling a low of 16,028.11 and a high of 16,131.94 in the session.

On Friday, the index ended down 60.30 points, or 0.38%, at 15,996.21.

Suncor Energy (SU.TO), Canadian Natural Resources (CNQ.TO) and PrairieSky Royalty (PSK.TO) gained 1 to 2%. Encana Corporation (ECA.TO) gained about 2.5% and Cenovus Energy (CVE.TO) jumped 4%.

ARC Resources declined 3.4% after S&P Dow Jones Indices removed the stock from the S&P/TSX 60 Index.

In the information technology space, Shopify Inc. (SHOP.TO) gained 5.5% following the inclusion of the stock in the S&P/TSX 60 index.

CGI Inc. (GIB.A.TO) gained 1.4%. The company announced an all-cash tender offer of 41.45 Swedish kronor per share to acquire Acando AB, a Stockholm-based management and IT consulting services firm. The offer represents a total price of 4.32 billion kronor for Acando, including the assumption of 93 million kronor in net debt corresponding to approximately C$614.7 million.

Descartes Systems Group (DSG.TO) ended stronger by 2.6% and Celestica Inc. (CLS.TO) gained 1.85%.

In the materials space, Barrick Gold Corporation (ABX.TO) gained more than 2%. Barrick Gold (ABX.TO) and Newmont Mining have signed a deal to create a joint-venture that will combine the two companies' mining operations in Nevada. As per the deal, Barrick will be the operator and will hold a 61.5% stake in the joint venture, while Newmont will own 38.5%.

First Quantum Minerals (FM.TO) surged up 2.85%, while Goldcorp Inc. (G.TO) and Nutrien (NTR.TO) gained 1.3% and 1%, respectively.

In the banking section, Toronto-Dominion Bank, Bank of Nova Scotia (BNS.TO) and Canadian Imperial Bank of Commerce (IM.TO) gained 0.4 to 0.6%.

Among the stocks in industrials space, Canadian National Railway (CNR.TO), Thomson Reuters Corporation (TRI.TO) and CAE Inc. (CAE.TO) posted strong gains.

Among cannabis stocks, Canopy Growth Corporation (WEED.TO) gained 1.1%, Aphria Inc. (APHA.TO) ended 1.7% up and Aurora Cannabis Inc. (ACB.TO) advanced nearly 2.5%.

The Green Organic Dutchman Holdings Ltd. (TGOD.TO) announced that it has entered into a multi-year extraction services contract with Valens GroWorks Corp. The stock gained 3.3%.

Semafo Inc. (SMF.TO) and Savary Gold Corp. (TSX-V: SCA) announced that they have entered into a definitive combination agreement pursuant to which Semafo will acquire all of the issued and outstanding common shares of Savary not already owned by it. Seamafo shares declined 1.8%, while Savary Gold spurted 9%.

The Green Organic Dutchman Holdings Ltd. (TGOD.TO) announced that it has entered into a multi-year extraction services contract with Valens GroWorks Corp.

Ag Growth International Inc. (AFN.TO) announced that it has entered into binding purchase agreements to acquire 100% of the outstanding shares of Milltec Machinery Limited for $109.5 million, plus the potential for up to an additional $38.4 million based on the achievement of EBITDA1 targets. The stock ended 0.6% up.

U.S. stocks rebounded after a weak start and ended with strong gains, thanks to encouraging data on retail sales and business inventories.

The Nasdaq soared 2% and the S&P 500 jumped 1.5%. The Dow underperformed due to a steep drop by Boeing (BA), but still ended with a solid gain of 0.8%.

European markets ended mostly higher amid a slew of economic data and some caution ahead of U.K. lawmakers' vote on Brexit tomorrow.

Asian markets turned in a mixed performance.

In commodities, West Texas Intermediate Crude futures for April ended up $0.72, or 1.3%, at $56.79 a barrel, after Saudi Arabia said it would continue to cut production to prevent a supply glut in the market.

Gold futures for April ended down $8.20, or 0.6%, at $1,291.10 an ounce.

Silver futures for May ended down $0.075, at $15.274 an ounce, while Copper futures for May settled up $0.0075, at $2.9010 per pound.

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