It was another record high for the TSX on Monday, as resource stocks spread their wings, in the aftermath of the U.S. invasion of Venezuela.
The TSX hiked 336.58 points, or 1.1%, to conclude Monday at 32,219.95.
The Canadian dollar let go of 0.08 cents to 72.66 cents U.S.
Venezuela, home to the world's largest oil reserves, remains in focus as traders assess the impact of its leader's capture. Brent crude futures were up 1.63% as the market shrugged off immediate oil supply concerns.
In notable share moves, Minto Apartment units jumped $3.70, or 27.2% to $17.30, after it said Crestpoint Real Estate Investments will take the company private in all-cash $2.3-billion deal.
Gold and materials were the key agents of this rise, Perpetua Resources leaping $2.71, or 8.1%, to $36.37, while Endeavour Silver captured $1.07, or 8.6%, to $13.48. Centerra Gold muscled higher 90 cents, or 4.6%, to $20.32, while Novagold gained 74 cents, or 5.9%, to $13.35.
In real-estate, Canadian Apartment REIT units gained $1.29, or 3%, to $38.41, while Killam REIT units picked up 74 cents, or 4.5%, to $17.18.
ON BAYSTREET
The TSX Venture Exchange powered ahead 27.78 points, or 2.8%, to end the session at 1,020.69.
Seven of the 12 subgroups were positive by the close, led by materials, skyward 3.5%, gold brighter 3.4%, and real-estate, ahead 2.2%.
The five laggards were weighed most by energy, plunging 3%, while consumer staples and utilities each demurred 0.9%.
ON WALLSTREET
Stocks rose on Monday even after the U.S.' attack on Venezuela and capture of leader Nicolas Maduro as crude oil prices saw gains, as investors bet the action would not lead to bigger geopolitical conflicts that upset markets.
The Dow Jones Industrials rocketed 595.10 points, or 1.2%, to close at 49,105.79, an all-time high in the session.
The S&P 500 Index claimed 43.62 points to 6,902.16.
The NASDAQ popped 160.19 points to 23,395.82.
Energy stocks led the gains on the notion the companies would benefit from rebuilding Venezuela’s oil infrastructure. Chevron surged 5% and was seen as the biggest beneficiary because of its presence already in Venezuela, which has the largest proven oil reserves in the world.
Exxon Mobil traded up 2%. Shares of oilfield services companies that could aid the Venezuela energy rebuild like Halliburton and SLB moved higher by 9% each.
Financial stocks were higher as well, as those on Wall Street were betting on a strong U.S. economy this year. Shares of big bank Goldman Sachs was up 4%, while shares of regional bank U.S. Bancorp grew 3%.
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 3% and Lockheed Martin gaining 2%, 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 climbed, lowering yields to 4.15% from Friday’s 4.19%. Treasury prices and yields move in opposite directions.
Oil prices picked up $1.05 to $58.37 U.S. a barrel.
Gold prices sprinted $122.50 to $4,452.10
