By Emily Glazer, MarketWatch
SAN FRANCISCO (MarketWatch) -- Canadian shares on Tuesday rallied past the 11,000-mark for the first time since October, as investors played catch-up to broad gains in global markets the prior day, when Canadian markets were closed.
Toronto's benchmark S&P/TSX Composite Index gained 231 points, or 2.1%, to 11,018. The Toronto Stock Exchange was closed on Monday for Canada's Civic Holiday.
On Tuesday, the TSE's advancing stocks outpaced decliners by 1,105 to 460.
Metals and mining shares led Canadian stocks higher, buoyed by a rise in gold and silver futures.
Among base-metal miners, shares of Lundin Mining Corp. /zigman2/quotes/201246870/delayed CA:LUN -0.12% rose 11% and Anvil Mining Ltd. added 6.7%. Shares of Barrick Gold Corp. /zigman2/quotes/209252292/delayed CA:ABX -0.91% gained 3.4%, Yamana Gold Inc. /zigman2/quotes/206359073/delayed CA:YRI -1.04% rose 2.9%, Pan American Silver Corp. shares gained 8.5% and Silver Wheaton Corp. rose 10%.
Gold futures rose for a fourth session, climbing to the highest level in two months.
On the Comex division of the New York Mercantile Exchange, August gold futures rose $10.90, or 1.1%, to end at $967.50 an ounce, the highest settlement price since early June. September silver gained 44.3 cents, or 3.1%, to $14.695 an ounce. See more on Metals Stocks.
Western Canadian Coal Corp. shares added 2.9% and Grande Cache Coal Corp. shares rose 5.2%.
Shares of Mercator Minerals Ltd. gained 4.3% and HudBay Minerals Inc. /zigman2/quotes/208987353/delayed CA:HBM -0.27% rose 2%.
September oil futures finished slightly lower but the Toronto energy sector was up 3.5%, responding to Monday's strong gains.
Suncor Energy Inc. /zigman2/quotes/204570600/delayed CA:SU -0.10% shares rose 5% and Pacific Rubiales Energy Corp. shares added 3.2%.
Light sweet crude for September delivery fell 16 cents to end at $71.42 a barrel in electronic trading on Globex. Read Futures Movers.
Canada's largest food processor, Maple Leaf Foods Inc. /zigman2/quotes/207245336/delayed CA:MFI -2.04% , recalled numerous meat products Tuesday due to possible listeriosis bacteria contamination. At least 20 deaths resulted in a listeriosis outbreak at a Toronto plant last year.
Additionally, Domtar Corp. on Tuesday reported a second-quarter loss. Excluding one-time items, the Montreal pulp and paper giant's loss of US$33 million, or US$0.76 a share, was down from a profit of US$32 million, or 74 cents, in the year-earlier period.
In the currency markets, the Canadian dollar fell 0.6% for the day against its U.S. counterpart. One U.S. dollar bought C$1.0722 compared with C$1.0659 late Monday.