Stocks in Canada and the United States moved into positive territory on Monday following Friday’s big selloff.

After dipping by 100 points at several points in the morning, the S&P/TSX composite index turned around to finish with a gain of 41.9 points, or 0.30%, closing at 14,043.6.

The TSX financial sector was ahead just over 1% with Royal Bank ahead 87¢ to $54.15.

Bank of Nova Scotia shares gained 29¢ to $50.74.

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The base-metal sector was the biggest decliner, down almost 2% on worries about lower demand for commodities. Teck Cominco shares fell 50¢ to $46.20.

The energy sector recovered most of the early losses, finishing the day down a slight 0.27% as oil prices moved down for a second day. U.S. crude settled down $1.04 at US$87.56 a barrel, retreating from last week’s all-time high of US$90.07.


On the TSX, EnCana eased 15¢ to $62.70.

Gold stocks slid lower as the price of bullion gave back $8.40 to US$760 after hitting 27-year highs last week. Yamana Gold was down 23¢ at $13.19.

The junior S&P/TSX Venture composite index lost 31.21 points, or 1.04%, to close at 2,978.81.

The Canadian dollar closed down 1.55¢ to US102¢.

In New York, U.S. stocks rose on Monday, rebounding from last week’s steep sell-off.

The Dow Jones industrial average was up 44.95 points, or 0.33%, to end at 13,566.97. The S&P 500 was up 5.70 points, or 0.38%, to finish at 1,506.33. The tech-heavy Nasdaq composite index was up 28.77 points, or 1.06%, to close at 2,753.93.