RTTNews - Toronto's main index has remained mildly higher on Monday, extending its recent gains. Financial stocks continue to lead Bay Street's market higher.

The S&P/TSX Composite Index has added 37.06 points or 0.34% to 10,724.61. The index is up for a third straight session and for the ninth time in 11 sessions.

Financials are showing a 2% gain. CIBC (CM.TO) has added 2.4%, Scotiabank (BNS.TO) is up 1.4% and Bank of Montreal (BMO.TO) has rallied 1.3%.

Moto Goldmines Limited (MGL.TO) has dropped 1.9% after the company confirmed that its board has determined the US$244 million takeover offer from Randgold Resources Limited is superior to the current agreement between Moto and Red Back Mining (RBI.TO). Red Back shares are up 1%.

Across the border, the Commerce Department reported U.S. new home sales jumped 11 percent to an annual rate of 384,000 in June from the revised May rate of 346,000. Economists had expected sales to rise to 352,000 from the 342,000 originally reported for the previous month.

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