Canada’s main stock index jumped almost 300 points Monday on the strength of a broad-based rally while U.S. stock markets were mixed.
The S&P/TSX composite index ended up 293.73 points, or 1.36 per cent, at 21,848.59.
The rise came as most sectors outside of technology saw gains, including a more than three per cent rise in the S&P/TSX energy index.
It also came as a bit of a reversal after Canadian equities have seen more pressure than the U.S. in recent weeks.
“It’s quite a strong rally for Canada compared to what’s been going on lately,” said Kevin Headland, chief investment strategist at Manulife Investment Management.
“Much of June has not been very positive for Canada, so it could be a bit of a rally off the recent bottom here.”
Investors could also be anticipating the potential for more positive news on the inflation front as Statistics Canada…
