So much for the post-Brexit jitters.
Global stocks climbed higher on Monday, propelled in part by the prospect of fresh monetary stimulus in Japan and the residual effects of a strong U.S. jobs report.
Here's what you need to know:
New record for U.S. stocks
U.S. stocks are riding high as the S&P 500 rose 0.34 per cent to close at a record level. Post-Brexit losses were fully wiped out on Friday, restoring roughly $1.4-trillion (U.S.) in market value that was lost after Britons voted to leave the European Union. (For its part, Canada's benchmark stock index closed near a 2016 high on Monday.)
A strong U.S. jobs report, released Friday, is helping to drive stocks higher. It showed that total nonfarm payroll employment jumped by 287,000 in June, beating expectations and easing some of the economic growth fears that had permeated the markets of late.
Japanese stocks, Nintendo surge
Japanese stocks registered healthy gains on Monday as the Nikkei 225 climbed 4 per cent on the day. Investors cheered a landslide win for Japanese Prime Minster Shinzo Abe's ruling coalition in upper house elections. After the result, Mr. Abe said a new round of fiscal stimulus was on the way, though he did not give specific details, Reuters reports.
Nintendo shares are surging following the release of Pokémon Go, a mobile game that uses augmented reality. The game currently sits atop the iTunes Canada chart for free app downloads. (Users, however, can make in-app purchases.) Over the last two trading days in Tokyo, shares have jumped 35 per cent and Nintendo's market value has soared by roughly $7-billion.
British stocks get boost
Britain's blue-chip stocks are also climbing, with the FTSE 100 finishing the day up 1.4 per cent. The index is comprised of many companies with significant foreign-currency exposure, thus a plunging British pound is helping drive up share prices. The FTSE 250, a broader index with more domestically-focused companies, is still down since the Brexit result.