TORONTO - The Toronto stock market moved ahead more than four per cent in afternoon trading as oil prices gained traction and investors gathered optimism from the American election.
Toronto's S&P/TSX composite index was up 414.60 points to 10,135.75.
The gains were widespread, with the base metal sector ahead 10.9 per cent on higher commodity prices.
Copper was up 1.15 cents at US$1.9695 a pound, while the December bullion contract gained $31.20 to US$758 an ounce on the New York Mercantile Exchange.
The light sweet crude oil contract for December rose $6.65 to $70.56.
The Canadian dollar is continuing its revival, up 2.02 cents at 86.70 cents US, recovering from its swoon to barely 77 cents a week ago.
On Wall Street, the Dow Jones industrial average rose three per cent, gaining 277.49 points to 9,597.32. The Nasdaq composite index added 48.33 points to 1,774.66 while the S&P 500 gained 35.52 to 1,001.82.
The stock-market cheer comes as Americans vote under a cloud of economic gloom. The U.S. Commerce Department said factory orders fell 2.5 per cent in September from August, much worse than the 0.7 per cent drop analysts had predicted.
