By Jeff Sanford

(August 14 – 17:15 ET) – A couple of key contracts signed major tech companies and gains in bank stocks helped the TSE to an impressive 210.31 point gain today.

The TSE 300 closed just a fraction under 11,000 at 10,999.10, up of 1.95%.

As usual Nortel drove the index. The company announced that it was chosen by Stream Intelligent Networks to implement wireless access in the GTA. Nortel was up 4.19% on the news.

Research In Motion was up 8.29% today after Compaq announced that it will create a Palm competitor based on the company’s software.

Tech-stocks JDS, Celestica, Sierra Wireless and Corel were also up on the day.

Bank stocks were also up this Monday as investors ventured into financials on the belief the Federal Open Market Committee won’t increase interest rates on August 22. Shares in TD were up 3.16% in front of its earnings announcement this week, CIBC was up 3.45%, Bank of Nova Scotia up 2.46%, Bank of Montreal 2.43% and Royal 2.70%.

The hostile takeover bid by De Beers for Winspear Diamonds turned friendly today as the Winspear board agreed to sell the company to De Beers for $350 million cash. Winspear was the third most heavily traded security on the day with over 3 million shares trading hands. It ended up 18.2% at $4.93.

Heritage Concepts was the most heavily traded issue again today with over 38 million shares trading hands. It rose 26¢ to close at 65¢, an increase of 66.67%.

The market was evenly split by industry. Overall, seven of 14 of the TSE’s sub-indices were up. Industrial products and financials iled the way with increases of 2.55% and 3.20% respectively. Metals and minerals led on the downside with a loss of 1.06%.

The even split applied to individual issues as well. Overall, 550 advanced on the day while 549 declined. Traffic was relatively light at just over 146 million shares traded.

The CDNX finished the day up 3.51 points to close at 3,343.51.

The loonie was relatively unchanged Monday, closing at US67.43¢ compared to US67.42¢ U.S. Friday. Traders seem to be waiting for the Bank of Canada’s monetary policy report on Wednesday, Consumer Price Index data Thursday and merchandise trade data for Friday, for economic data to trade on.

Market watchers say the Democratic convention could give the market a boost south of the border as Gore outlines his deficit-cutting platform to the party faithful gathered in Los Angeles this week.

Nevertheless, markets are likely to trade within a relatively narrow boundary now that earnings season is done and market watchers wait for the FOMC meeting on August 22.

Markets carved out some good gains, though, on the day. The Nasdaq composite was up 60.06 points to close at 3,849.53, the Dow was up 148.34 points to close at 11,176.14, and the S&P 500 was up 19.72 points to close at 1491.56.