A broad-based rally carried the benchmark index of the Toronto Stock Exchange higher on Monday, helping the index reverse some of the hefty losses incurred during last week’s trading.

The S&P/TSX composite index rallied 144.29 points, or 1.3%, to close at 11,102.62. All 10 main groups on the TSX finished with gains.

The heavyweight energy group surged 1.8% as oil futures climbed higher. Crude oil for November delivery finished up 46 cents, or 0.7%, at US$70.41 a barrel on the New York Mercantile Exchange.

Units of Canadian Oil Sands Trust jumped 3% to $29.15 and Husky Energy Inc. gained 2.9% to $30.14.

Shares of Imperial Oil Ltd. rose $1.21, or 3%, to close at $41.44.

Shares of TriStar Oil & Gas Ltd. surged $1.00, or 6.4%, to $16.73 on heavy trading volume.

Gold futures also advanced on Monday, contributing to a 2.6% boost for the sub-gold index and a 1.6% gain for materials stocks. On the Comex division of the New York Mercantile Exchange, gold for December delivery gained US$13.50, or 1.3%, to US$1,017.80 an ounce.

Shares of Inmet Mining Corp. rallied to $58.60, up $3.10, or 5.6%.

Kinross Gold Corp. rose 2.2% to $22.61 and Goldcorp Inc. added 2.2% to $42.21.

Shares of Ivanhoe Mines Ltd. rose 2.1% after the company announced that it will sign an agreement tomorrow with partner Rio Tinto Group and the Mongolian government to develop a copper and gold project. Ivanhoe shares closed at $13.91.

Declining on Monday were shares of Potash Corp., down 1.3% to $91.61.

Financial stocks gained 1.4% on Monday.

CIBC’s stock jumped $1.65, or 2.6%, to $64.96.

Bank of Nova Scotia gained 2.1% to $47.08, and Royal Bank of Canada advanced 1.8% to $56.15.

Also higher was National Bank of Canada, up 1.4% to $58.32, and Manulife Financial Corp., up 1.1% to $21.80.

Junior stocks also advanced on Monday, boosting the S&P/TSX Venture composite index by 10.13 points, or 0.8%, to 1,254.25.

The Canadian dollar surged more than a cent on Monday, to close at US93.45¢.

In New York, U.S. also rallied on Monday, putting to an end a four-day losing streak. The gains came after the Institute for Supply Management’s index of service industries beat expectations, rising to 50.9 in September from 48.4 in August.

The Dow Jones industrial average rose 112.08 points, or 1.2%, to finish at 9,599.75.

The S&P 500 index rose 15.25 points, or 1.5%, to 1,040.46.

The Nasdaq Composite rose 20.04 points, or 1%, to 2,068.15.

IE