S&P/TSX composite closes up more than 350 points

Canada’s main stock index ended more than 350 points higher on Monday, led by the basic materials sector.

The S&P/TSX composite index was up 359.53 points at 34,830.89.

Brianne Gardner, senior wealth manager at Velocity Investment Partners of Raymond James, says the TSX outperformed Monday as investors pivoted to materials, technology and industrial sectors across the board.

U.S. stock markets were closed Monday for the Memorial Day holiday, but President Donald Trump said that negotiations with Iran are “proceeding nicely,” while reiterating his warning that fighting would resume if no deal is reached.

The Canadian dollar traded for 72.44 cents US compared with 72.42 cents US on Friday.

There was no price settlement for crude oil and gold because of the holiday in the U.S.

— With files from The Associated Press

The Canadian Press

The Canadian Press is a national news agency headquartered in Toronto and founded in 1917.