Toronto stocks closed higher on Monday, ending a four-day losing streak as oil prices steadied. The S&P/TSX composite index rose 53.87 points, or 0.58%, to 9,330.99.

The energy sector rose 0.82%, while a 1.3% advance by the materials group added support.

Seven of the 10 TSX main groups ended higher.

Oil prices settled just above US$50 a barrel after a two-week sell-off triggered by swelling stockpiles in the United States.

Shares of EnCana rose $1.37, or 1.7%, to $80.52, while Canadian Natural Resources advanced $1.16, or 1.8%, to $63.61.

A 1.5% decline among healthcare stocks capped the market’s gain as the sector followed Neurochem. lower after it reported disappointing study results for an experimental drug to prevent organ failure.

Neurochem shares fell $4.22, or nearly 30%, to $9.92, while MDS Inc. eased 26¢, or 1.5%, to $17.11.

In New York, U.S. blue-chip stocks fell for a fourth consecutive session, weighed down by a 6% tumble in bellwether 3M Co.

The Dow Jones industrial average was down 16.26 points, or 0.16%, at 10,071.25, edging to a fresh 5 1/2 month low.


The Nasdaq composite index got a boost from Intel Corp. The chipmaker Intel rose 9¢ to US$22.21 after Wells Fargo upgraded the company. The Nasdaq finished up was up 4.77 points, or 0.25%, at 1,912.92.

The broader S&P 500 Index was up 3.36 points, or 0.29%, at 1,145.98.