Canada's main stock index advanced on Monday to near record highs as commodity prices helped fuel energy and mining stocks to lead broad gains. Gold miner Franco Nevada Corp, which jumped 4.5 percent to C$106.17 after reporting stronger-than-forecast results, was the most influential gainer. Energy stocks made up the remaining top five biggest contributors to the index.
Encana Corp was up 3.4 percent to C$16.29, while Cenovus Energy climbed 3.9 percent to C$14.10. At 10:49 a.m. ET (1549 GMT), the Toronto Stock Exchange's S&P/TSX composite index rose 72.28 points, or 0.45 percent, to 16,092.44. Of the index's 10 main groups, seven were in positive territory. Advancing issues outnumbered declining ones on the TSX by 182 to 59, for a 3.08-to-1 ratio on the upside.
The index was just a few points shy of a new record reached last week of 16,105.88. The index also marked its eighth straight week of gains on Friday, a win-streak not seen in nearly 12 years. The heavily weighted financial services sector gained 0.1 percent. Utilities rose 1.0 percent, while healthcare companies jumped 3.2 percent. Canopy growth Co extended its recent rally, jumping 8.7 percent to C$18.40. Air Canada was among the few notable decliners, falling 3.1 percent to C$24.12.