Financial and gold shares helped boost Bay Street Monday, although many investors appeared to follow their U.S. counterparts and take a holiday.

At close, the S&P/TSX composite index was up 23.56 points or 0.24% to 9682.31, while the TSX Venture Exchange jumped 13.11 points or 0.68% to 1954.28. Trading was lacklustre — volume on the TSX was only 155 million shares, considerably off a normal trading day — with New York markets closed for the Presidents Day holiday.

The Canadian dollar was down 0.16 cent to US81.04¢ late in the day after Statistics Canada reported that retail sales in December were down 1.4% from the previous month. Most of the drop came as a result of a 2% drop in the automotive sector.

On the TSX, financial stocks led the charge, adding 0.52%, in anticipation of strong earnings from the banks this week. HSBC Bank Canada said Monday its profits improved in the fourth quarter, finishing off a strong year in which earnings improved 18% over 2003. The Canadian unit does not trade publicly.

Gold shares were up 0.30% even though the price of gold in London was down 8¢ to US$427.10.

Energy stocks added 0.24% as the price of crude in London rose to a three-week high on Monday on concerns over a possible second quarter OPEC production cut, tightening global market forecasts and cold weather in the United States. Oil futures on London’s International Petroleum Exchange closed 41¢ up at US$46.75 a barrel.

Among the most active stocks was BCE Inc., whose shares were up 22¢ to $29.49 following a report that an offer has been made for Bell Globemedia, the company that owns the Globe and Mail and CTV.