Resource stocks helped send the Toronto stock market higher Monday morning.

The S&P/TSX composite index was up 79.55 points to 11,842.3 at mid-morning

U.S. markets were closed for the Memorial Day holiday.

Shares in WestJet Airlines moved up 37¢ to $11.45 after the carrier apologized to Air Canada over a campaign of corporate espionage. Air Canada filed a $22 million lawsuit last year alleging WestJet wrongfully used the Air Canada employee website to get information on passenger loads.

WestJet has agreed to pay $15.5 million to settle the issue. Shares in Air Canada holding company ACE Aviation were ahead 17¢ to $32.70.

The energy sector on the Toronto market was up 1.15% despite the closure of the New York Mercantile Exchange

The mining sector rose 0.8% as shares in nickel giant Inco Ltd. moved 90¢ higher to $72.95 after union leaders said Sunday a strike by thousands of Inco workers in Sudbury, Ont., is likely to begin this week after a breakdown in contract talks.

The gold sector was ahead 0.8% as the price of bullion in Zurich rose $4.80 to US$648.50 an ounce.

The financial sector advanced 0.5% with Bank of Nova Scotia up 67¢ to $43.57 ahead of the release of earnings later in the day.

The TSX Venture composite index rose 12.71 points to 2,852.9.

The Canadian dollar was up 0.2 of a cent to US90.51¢.

Toronto stocks rallied Friday, posting triple-digit gains for the second-straight session, on the continued strength of the energy and materials groups.

The S&P/TSX composite index lifted 109.75 points, or 0.96%, to 11,762.75. The market gained 229.09 points in yesterday’s session, and is up 216.98 points, or 1.9%, for the week.
The S&P/TSX Venture composite index moved up 33.91, or 1.21%, to 2,840.19.

In New York, markets were higher going into the three-day Memorial Day holiday weekend on investor hopes that inflation was well in check.

The Dow Jones Industrial Average rose 67.56 points, or 0.6%, to 11,278.61.The Nasdaq Composite Index climbed 12.13 points, or 0.6%, to 2,210.37, and the S&P 500 Index added 7.28 points, or almost 0.6%, to 1,280.16.

For the week the Nasdaq gained 0.8%, the Dow rose 1.2% and the S&P 500 advanced 1%.