Strength in the gold and base-metal sectors pushed Toronto stocks to a higher close Monday. The S&P/TSX composite index climbed 64.01 points to finish at 8,412.75.

The gains in the gold sector came despite news that Wheaton River Minerals has rebuffed a sweetened takeover bid from Coeur d’Alene Mines and will continue with its plans to merge with IAMGold Corp.

The announcement comes one day before Wheaton River shareholders are due to vote on the deal with IAMGold.

Wheaton River shares lost a penny, closing at $4.03 on the TSX. IAMGold shares gained 7¢ to end at $7.77, while Golden Star gained 6¢, closing at $6.60.

Other gold stocks trading higher included Miramar Mining, up 6¢ to $1.72, and Cambior, up 10¢ to $3.60.

Advancing base-metal stocks included Inco, up $1.58 to $45.44, and Teck Cominco, up $1.13 cents to $23.65. Falconbridge shares were up $1.14 to $31.49.

The junior S&P/TSX Venture composite index gained 10.21 points to close at 1,595.06.

On Wall Street, stocks rallied to their highest level in a month on Monday as investors fed off Friday’s strong job numbers and stabilizing oil prices.

Oil prices ended below US$40 a barrel again on Monday as increased supplies in the United States and OPEC’s pledge to bump up output eased immediate concerns of a supply crunch in world markets.

Trading was light on the first day of a shortened week, as the New York Stock Exchange and the Nasdaq said they will close this Friday to observe Reagan’s death.

The Dow Jones industrial average ended up 148.26 points, or 1.45%, at 10,391.08. The S&P 500 closed up 18.03 points, or 1.61%, at 1,140.53. The tech-heavy Nasdaq composite index climbed 42 points, or 2.12%, to 2,020.62.