The Toronto Stock Exchange surged sharply higher on Monday, gaining nearly 4% in a broad-based increase that pulled all 10 main groups on the index higher.

The S&P/TSX composite index rose 373.41 points, or 3.9%, to close at 9,870.37, the highest closing level for the benchmark index in six months.

The materials group soared 5.7%, helped by a boost in gold futures. June gold climbed US$14.00, or 1.6%, to end at US$902.20 an ounce on the Comex division of the New York Mercantile Exchange.

The sub-gold index on the TSX gained 4.7%.

Shares of Inmet Mining Corp. surged $6.46, or 14.7%, to $50.30 and Teck Resources Ltd.’s stock jumped 12.2% on huge trading volume, to close at $15.70.

Goldcorp Inc. gained $1.73, or 5.3%, to $34.33 and Barrick Gold Corp. shares jumped 6% to $36.45.

The energy group rose 4.7% during Monday’s trading as oil futures closed at their highest level in more than five months. Crude for June delivery gained US$1.27, or 2.3%, to end at US$54.47 a barrel on the New York Mercantile Exchange.

Shares of Canadian Natural Resources Ltd. jumped $4.65, or 8.3%, to $60.89 and EnCana Corp. gained 5.2% to $60.00.

Husky Energy Inc. rose 5.7% to $30.98 and Talisman Energy Inc. advanced 5.6% to $16.80.

Financial stocks gained 4.3% on Monday.

Shares of CI Financial Inc. surged $1.46, or 9.1%, to $17.50 and Sun Life Financial Corp. rose 5.3% to $29.63.

Also higher was Toronto-Dominion Bank, up 4.1% to $49.35 and Bank of Nova Scotia, higher by $1.58, or 4.7%, to $35.47.

Bank of Montreal shares rose $1.79, or 4.6%, to close at $40.99.

The S&P/TSX Venture composite index gained 17.02 points, or 1.7%, to finish at 1,027.19.

Meanwhile, the Canadian dollar also advanced sharply on Monday, hitting its highest level since November. The loonie gained nearly a cent to close at US85.22¢.

In New York, U.S. stocks also soared higher, following the release of better-than-expected economic data. The U.S. Commerce Department said construction spending rose 0.3% in March after five straight declines, and the National Association of Realtors announced that pending U.S. home sales rose 3.2% in the month.

The Dow Jones industrial average gained 214.33 points, or 2.6%, to end at 8,426.74.

The S&P 500 index gained 29.72 points, or 3.4%, to 907.24, a four-month high, putting the index into positive territory for the year to date.

The Nasdaq composite index gained 44.36 points, or 2.6%, to end at 1,763.56.

IE