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S&P/TSX composite up nearly 300 points


Canada’s main stock index closed up almost 300 points Monday ahead of Statistics Canada releasing its latest inflation data on Wednesday, while U.S. markets were also up.

The S&P/TSX composite index was up 294.67 points at 18,621.02.

In New York, the Dow Jones industrial average was up 550.99 points at 30,185.82. The S&P 500 index was up 94.88 points at 3,677.95, while the Nasdaq composite was up 354.41 points at 10,675.80.

“We’re seeing a rally to kick off the week as we see some stabilization in the bond market,” said Angelo Kourkafas, an investment strategist at Edward Jones. “Bond yields are slightly lower, we have seen the U.S. dollar pull back against other major currencies.”

The Canadian dollar traded for 72.83 cents US compared with 72.17 cents US on Friday.

News that the British government pulled a reversal on its suite of tax cuts helped the pound rebound, he…

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