Strength in energy stocks as the price of oil once again topped US$80 per barrel helped lead a broad rally on the Toronto Stock Exchange Monday, lifting Canada's main stock index almost 200 points, while U.S. stock markets also climbed.

The S&P/TSX Composite Index closed up 189.39 points, or 0.95 per cent, at 20,025.14.

In New York, the Dow Jones Industrial Average was up 213.08 at 34,559.98. The S&P 500 Index was up 27.60 points at 4,433.31, while the Nasdaq Composite was up 114.48 points at 13,705.13.

The Canadian dollar traded for 73.55 cents U.S. compared with 73.50 cents U.S. on Friday.

The October crude contract was up 27 cents at US$80.10 per barrel and the October natural gas contract was up less than a penny at US$2.67 per mm/BTU.

The December gold contract was up US$6.90 at US$1,946.80 an ounce and the December copper contract was up less than a penny at US$3.79 a pound.

This report by The Canadian Press was first published Aug. 28, 2023