Toronto stocks saw slight strength in the mid-morning on Monday, adding to recent gains. Metal-related stocks are leading the way with gold higher in Comex trading.
The S&P/TSX Composite Index is up 22.58 or 0.24% to 9,209.70. Toronto's main index is on target to extend its highest closing level since Jan. 8.
Mining stocks continued to rally, adding another 4.4%. Teck Cominco (TCK.B.TO) has surged 8.6%, Thompson Creek (TCM.TO) is up 5% and Inmet (IMN.TO) has gained 3%.
Gold stocks are up 2.6% and materials stocks have added 2.2%. Eldorado (ELD.TO) is up 6%, Iamgold (IMG.TO) has gained 4.75% and Goldcorp (G.TO) is up 3%.
On the Comex, gold prices have added $13.40 to $896.70 per ounce, silver is up 40 cents to $3.2441 an ounce and copper gained 6.55 cents to $3.167 per pound.
Meanwhile, energy stocks have lost 1.4% with crude oil fallong again on the NYMEX. Canadian Oil Sands (COS.TO) has lost 3.7%, Suncor (SU.TO) has slipped 1.8% and Canadian Natural Resources (CNQ.TO) is down 1.7%.
Light sweet crude for May delivery fell to $49.01, down $3.23 for the session. Prices touched as low as $48.86 after hitting as high as $52.15 in overnight deals.
UTS Energy Corp. (UTS.TO) has added 2.3% after Total SA announced it raised its offer to buy UTS to C$1.75 cash per share, up from C$1.30. The deadline has been extended to 8 p.m. April 27.
On Thursday, the S&P/TSX Composite Index jumped 217.84 points or 2.43% to 9,187.12. Markets were closed in observance of Good Friday.
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