Technology issues lifted Toronto stocks to a higher close Monday. The S&P/TSX composite index rose 20.78 points to 7,411.33.

Volume was light in the wake of Thursday’s major power blackout.

The information technology sector rose 2.3%, but had a limited effect on the broader market as the gold index dropped about 3%.

The price of gold dropped US$4.40 to US$358.70 an ounce in New York.

Research In Motion gained $2.37 to $38.27 after it was upgraded to “buy” from “hold” by TD Securities.

Open Text rose $2.96 to $46.90 as Raymond James and Desjardins Securities raised their target prices for the software maker by 9% and 21% respectively.

The influential financial index rose 0.3% as investors look ahead to stronger Q3 earnings reports when CIBC starts the banks’ earnings parade on Wednesday.

The junior S&P/TSX Venture composite index slipped 5.69 points to 1,235,97,

In New York, the Dow Jones industrial average climbed to its highest close in 14 months, rising sharply in a quiet session following last week’s blackout. Good earnings news from Lowe’s and Toys “R” Us helped lift stocks.

The Dow closed up 90.76 at 9,412.45. The broader market also finished higher. The Nasdaq composite index rose 37.48 to 1,739.49. The S&P 500 index advanced 9.07, or 0.9 percent, to 999.74.

The Canadian dollar finished slightly lower against the U.S. greenback on Monday, as a thin market awaited fresh inflation figures.

The loonie finished at US71.91¢ compared with US72.08¢ at Friday’s session close.

Tuesday brings the release of Canada’s consumer price index for July, which is expected to come in at 2.3%.