North American stocks shot ahead Monday, shaking off the pessimism of recent weeks, as global merger news and optimism about the strength of the global economy had investors piling back into markets.

The S&P/TSX composite index gained 182.06 points, or 1.42%, to 13,011.74.

Nine of the 10 TSX main sub-groups participated in the rally.

The energy sector gained 2.52%.

Light, sweet crude for April delivery gained 52¢ at US$56.59 a barrel on the New York Mercantile Exchange.

Nexen Inc. moved up $1.90, or 2.95%, to $66.35.

The materials sector gained 1.26%, while the gold sub-index moved up 1.24%.

Gold futures gained 40¢ to close at US$654.30 an ounce.

Eldorado Gold Corp. gained 15¢, or 2.22%, to $6.90.

The information technology group lost 0.86%. Nortel Networks lost $1.90, or 2.95%, to $66.35.

The Canadian dollar was off 0.18 of a cent to US84.91¢.

The S&P/TSX Venture composite index moved up 10.12 points, or 0.33%, to 3,075.74.

In global merger news, Dutch banking giant ABN Amro Holding NV is reported to be the takeover target of Britain’s Barclay’s Bank PLC.

In New York, the Dow Jones industrial average gained 115.76, or 0.96%, to 12,226.17, the Nasdaq gained 21.75, or 0.92%, to 2,394.41, and the S&P500 moved up 15.11, or 1.09%, to 1,402.06.