ended up 178.39 points, or 0.9%, at 20,278.28, its seventh straight day of gains and its highest closing level since March 8.
There were a number of "obvious" catalysts for the rally including the move by OPEC, said Matt Skipp, president of SW8 Asset Management.and allies jolted markets with plans to cut more production, driving the price of oil 6.3% higher. Energy, which accounts for about 19% of the Toronto market's market capitalization, rose 5.4%, while the materials group, which includes precious and base metals miners and fertilizer companies, added 2.2% as gold prices rose and after the shares of
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