Markets extend rally on oilpatch, bank plans

Stock markets have extended their March rally into a third week, with Toronto’s S&P/TSX composite index jumping 452.16 points yesterday to 8,958.51 after Suncor Energy Inc. and Petro-Canada announced their merger.

The Dow Jones industrial average gained 497.48 points to 7,775.86, the Nasdaq composite index jumped 98.5 points to 1,555.77, and the S&P 500 index moved up 54.38 points to 822.92 after the U.S. Treasury Department unveiled its plan to revive bank lending.