North American markets ended higher Monday, as investors shook off jitters over the economic effects of hurricane Katrina and concentrated instead on economic fundamentals. The S&P/TSX composite index finished up 74.33 points , or 0.71%, at 10,558.40.

Volume on the senior exchange was a light 167 million shares.

Six of the 10 TSX main sub-groups gained on the day, led by the energy sector, which improved by 1.60%.

The October crude future contract closed up $1.07 at US$67.20 a barrel, after hitting a record $70.80 in intra-day trading. Oil refining was largely shut down in the U.S. gulf coast region in the storm’s wake.

Market stalwart EnCana gained $1.09, or 2.03%, to close $54.70, while Canadian Natural lifted $1.91, or 3.61%, to end $54.79.

Drilling company NQL Energy Services Inc. moved up 25¢, or 5.62%, to $4.70after it said it will buy Stabeco Industries Inc., a privately held Calgary-based company, for $21.6 million.

The Consumer discretionary group slipped 0.48%

Hudson’s Bay Co. gained 6¢, or 0.45%, to $13.25 after reporting a $8 million loss from a year-ago $15 million decline.

The material group advanced 0.62% after nickel producer Inco Ltd. plans to spend about US$34 million to develop a new deposit at its mine in Thomson, Man. Inco shares rose 59¢, or 1.19%, to $50.19.

The influential financials group gained 0.80%.

The Bank of Nova Scotia gained 25¢, or 0.61%, to $41.10 as investors awaited the announcement of Scotiabank’s third quarter earnings, to be released tomorrow.

The junior S&P/TSX Composite index inched ahead 0.5 of a point, or 0.03%, to 1,914.84.

In New York, the Dow Jones industrial average closed up 70.22 points, or 0.68%, at 10,467.51 while the S&P500 was up 7.74 points, or 0.64%, at 1,212.84.

The technology-heavy Nasdaq composite index was up 16.78 points, or 0.79%, at 2,137.55.

Shares of property and casualty insurers fell with investors awaiting loss estimates from hurricane Katrina’s rampage along the U.S. Gulf Coast.