(RTTNews) - Bay Street stocks remain more than 2% higher on Monday afternoon, following the lead of stocks across the border and overseas. Commodity-linked sectors have led the way.

The S&P/TSX Composite Index has rallied 228.53 points or 2% to move at 11,478.76. The market gained more than 300 points last week to move off of a two-month low.

Mining stocks have gained 3.3% as copper prices rose toward $3 per pound. Inmet (IMN.TO) has gained 5.6%, HudBay (HBM.TO) is up 4.6% and Teck Resources (TCK.B.TO) has gained 3.5%.

Quadra Mining (QUA.TO) is up 0.7% after the company reported third quarter earnings of US$14.7 million or US$0.15 per share, compared to US$20.77 million or US$0.31 per share last year.

Energy stocks are up 2.9%, boosted by higher crude oil prices. Suncor (SU.TO) has rallied 5% and Encana (ECA.TO) is up 2.9% to lead the way.

Ensign (ESI.TO) has climbed 2% after the company reported its third-quarter net income plummeted to C$16.90 million or C$0.11 per share from C$72.07 million or C$0.47 per share in the previous year. In the second quarter, the company’s net income was C$13.21 million or C$0.09 per share.

Materials stocks have added 2.7% and gold stocks have risen 2.5% as the precious metal extended a record high. Eldorado (ELD.TO) has rallied 5.5%, Goldcorp (G.TO) is up 5.1% and Iamgold (IMG.TO) has gained 4.5%.

In other corporate news, Cardiome Pharma (COM.TO) dropped 2.5%. The company announced a third-quarter net loss of C$0.4 million or C$0.01 per share, compared to C$11.8 million or C$0.18 per share in the prior year period.

Angiotech Pharmaceuticals (ANP.TO) has dropped 8.7% after the company reported third quarter net loss of US$7.8 million or US$0.09 per share, compared to net loss of US$622.38 million or US$7.31 per share last year.

CGI Group (GIB.A.TO) has declined 1.3% after the company reported that its fourth-quarter net earnings from continuing operations were C$82.55 million or C$0.27 per share, compared to C$75.26 million or C$0.24 per share in the same quarter last year.

AutoCanada Income Fund (ACQ_U.TO) has soared nearly 20% after the company reported its third quarter net earnings of C$5.10 million or C$0.256 per share, compared to restated net loss of C$38.32 million or C$1.892 per share in the same period last year.

Silvercorp Metals (SVM.TO) has added 3.1% after the stock was initiated at Market Outperform at Rodman & Renshaw with a price target at $7.50.

Research In Motion (RIM.TO) has rallied 3.1% after the company unveiled a new services platform for developers to streamline business processes for BlackBerry smartphones.

In economic news, Canada Mortgage and Housing Corp. announced that housing starts rose to a seasonally-adjusted 157,000 in October, compared to the 149,300 reported last month. Experts had forecast a rise to 154,000.

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Posted in Categories: Canada, Releases, Stocks, USA.

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