TORONTO, Oct 20 (Reuters) - Canada's main stock index rebounded on Monday, with metal mining shares leading broad-based gains as concerns eased over an escalating global trade war.
The S&P/TSX composite index (.GSPTSE), ended up 307.96 points, or 1%, at 30,416.44, after posting declines on Thursday and Friday.
Wall Street indexes also rose as investors braced for a wave of corporate earnings.
"After last week's volatility, Canadian equities are starting strong, supported by robust corporate results from the U.S. and positive trade developments between the U.S. and China," said Angelo Kourkafas, a senior global investment strategist at Edward Jones.
"While near-term challenges persist, the limited market pullback reflects investor optimism for 2026."
U.S. President Donald Trump said he expects to reach a fair trade deal with Chinese President Xi Jinping and downplayed risks of a clash between the countries over the issue of Taiwan.
Canada offered tariff relief on some steel and aluminum products imported from the United States and China, a government document showed, in an effort to help domestic businesses battered by a trade war on two fronts.
The materials group (.GSPTTMT), which includes fertilizers and metal mining companies, gained 2.3% as the price of gold touched another record high. Shares of copper and gold exploration company NGEx Minerals Ltd (NGEX.TO), added 12.7%.
Heavily weighted financials (.SPTTFS), advanced 0.8% and industrials (.GSPTTIN), were up 0.8%.
Nine of 10 major sectors ended higher. Consumer staples (.GSPTTCS), was the exception, falling 0.7%.
Shares of food and pharmacy retailer Loblaw Companies Limited (L.TO), ended 1.5% lower, snapping an eight-day winnin
