@ the Bell: TSX jumps as commodity stocks offset trade tensions
Canada's main stock index rallied higher on Monday, buoyed by strength in commodity-related stocks, even as concerns over tariffs continued to weigh on investor sentiment. The energy market was the leading sector for the TSX.
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On Friday, US President Donald Trump announced plans to double tariffs on imported steel and aluminum—from 25 per cent to 50 per cent —starting Wednesday. These new measures build on the initial tariffs he introduced after taking office in January, intensifying the ongoing global trade conflict.
The Canadian dollar traded for 72.90 cents US compared to 72.86 cents US on Friday.
US crude futures traded US$1.76 higher at US$62.55 a barrel, and the Brent contract rose US$1.89 to US$64.77 a barrel.
The price of gold was up US$83.25 to US$3,374.53.
In world markets, the Nikkei was down 494.43 points to ¥37,470.67, the Hang Seng was down 131.80 points to HK$23,157.97 the FTSE was up 1.88 point to ₤8,774.26, and the DAX was down 66.81 points to €23,930.67.
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