The benchmark index of the Toronto Stock Exchange closed at an all-time high Monday, boosted by big gains in a couple of heavyweight stocks.
The S&P/TSX composite index was up 144.88 points, or 1%, to end the trading day at 14,666.07, shattering the , previous high close of 14,625 reached on July 19 last year.
Two stocks in particular were driving Monday’s gains.
Research in Motion shares jumped $8.90 to $142.25 after it announced its new Bold smart phone.
Oil and gas giant EnCana shares were up $5.68 to a close of $92.20 after it announced plans to split into two separate companies. The company said its board of directors unanimously approved a proposal to create an integrated oilsands firm and a natural gas-focused exploration and production company.
Since the start of the year, the TSX market has jumped 6.1%.
The TSX energy sector gained 2.15% in the wake of the EnCana announcement even as oil prices stepped back.
The June crude oil contract on the New York Mercantile Exchange slipped $1.73 to US$124.23 a barrel as the U.S. dollar strengthened against the euro and yen.
Gold prices were slightly lower and the June bullion contract in New York eased 90¢ to US$884.90 an ounce on the Nymex, and the TSX gold sector moved down 0.6%. Barrick Gold faded 56¢ to $38.95.
The financial sector also contributed to the strong showing, rising 0.37% as Bank of Nova Scotia rose 33¢ to $48.37.
Home Capital Group Inc. said strong earnings in its mortgage and credit-card lending business led to a 19 per cent rise in first-quarter profit to $25.2 million and its shares climbed $1.52 to $39.82.
Among individual stocks WestJet shares fell 20¢to $16.10 after following Air Canada and various American carriers in adding fuel surcharges.
The junior S&P/TSX Venture composite index gained 12.10, or 0.47%, to finish at 2,576.11.
In New York, the Dow Jones industrial average soared 130.43 points, or 1.02%, to close at 12,876.31.
The S&P 500 gained 15.30 points, or 1.1%, to end at 1,403.58, and the tech-heavy Nadaq composite index added 42.97 points, or 1.76%, to close at 2,488.49.