Energy led gains on the TSX, followed by the tech and industrial markets. Canada’s main stock index jumped on Monday, due to a new record high for gold prices after US President Trump’s latest tariff threats as well as a rebound in oil prices.
Over the weekend, Trump said he will introduce a 25 per cent tariff on all steel and aluminum imports into the US, starting from Monday. Canada is one of the largest sources of US steel and aluminum imports. American steel and aluminum stocks rose. Global investment firm Brookfield (TSX:BN) said it would invest €20 billion to develop AI-related projects.
The Canadian dollar traded for 69.88 cents US compared to 70.00 cents US on Friday.
US crude futures traded US$1.47 higher at US$72.47a barrel, and the Brent contract rose US$1.38 to US$76.04 a barrel.
The price of gold was up US$44.80 to US$2,906.70.
In world markets, the Nikkei was up 14.15 points to ¥38,801.17, the Hang Seng was up 388.44 points to HK$21,521.98, the FTSE was up 67.27 points to ₤8,767.80, and the DAX was up 124.74 points to €21,911.74.
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(Top image generated with AI.)