Canada's main stock index opened higher on Monday, lifted by mining stocks as the turmoil in Venezuela drove investors towards safe-haven assets, including gold and other precious metals.
The TSX hiked 210.04 points to begin the year’s first week at 32,093.41.
The Canadian dollar let go of 0.23 cents to 72.51 cents U.S.
The S&P/TSX composite index gained more than 28% in 2025, its best annual performance since 2009, driven by soaring metal prices and the financial sector's robust earnings.
The benchmark began 2026 on a positive note on Friday, breaking a four-session losing streak and ending 0.54% higher.
ON BAYSTREET
The TSX Venture Exchange powered ahead 32.11 points, or 3.2%, to kick off Monday and the week at 1,025.02.
Seven of the 12 subgroups were positive in the first hour, led by gold, up 4.5%, materials, better by 4.3%, and information technology, ahead 1.4%.
The five laggards were weighed most by energy, plunging 5%, utilities, backing off 1.1%, and telecoms, sliding 0.5%.
ON WALLSTREET
Stocks rose on Monday even after the U.S.' attack on Venezuela and capture of leader Nicolas Maduro as crude oil prices showed little reaction and investors bet the action would not lead to bigger geopolitical conflicts that upset markets.
The Dow Jones Industrials popped 558.14 points, or 1.2%, to start the new trading week at 48,940.53. The 30-stock index had hit a new all-time high in the session.
The S&P 500 Index claimed 42.69 points to 6,901.45.
The NASDAQ sprang back up 188.58 points to 23,424.21.
Energy stocks led the early gains on the notion the companies would benefit from rebuilding Venezuela’s oil infrastructure. Gold and bitcoin prices gained.
Chevron surged 3% and was seen as the biggest beneficiary because of its presence already in Venezuela, which has the largest proven oil reserves in the world. Shares of oilfield services companies that could aid the Venezuela energy rebuild like Halliburton and SLB gained 7% each.
Following the attack and capture by the U.S. military, Maduro and his wife, Cilia Flores, were flown to New York — where they were charged with narco-terrorism conspiracy and other crimes. Drug trafficking, according to the indictment, “has enriched and entrenched Venezuela’s political and military elite.”
President Donald Trump said Saturday in a news conference that the U.S. would “run” Venezuela “until such time as we can do a safe, proper and judicious transition.”
Shares of defense giants General Dynamics moved higher 2% and Lockheed Martin gaining 3%, with Trump’s latest action showing quick military strikes would be a key part of his policy for dealing with geopolitical issues that arise.
Prices for the 10-year Treasury gained ground, lowering yields to 4.17% from Friday’s 4.19%. Treasury prices and yields move in opposite directions.
Oil prices picked up 59 cents to $57.91 U.S. a barrel.
Gold prices sprinted $132.50 to $4,462.10
