Baystreet.ca - Canada's main stock index climbed to a five-week high on Monday following Donald Trump's inauguration as U.S. president, with markets expecting the incoming administration to go easy on tariff pledges.
The TSX gained 87.31 points to pause for lunch at 25,155.23.
The Canadian dollar sprang up 0.7 cents at 69.79 cents U.S.
Trump was sworn in as U.S. president at 12:00 p.m. ET in a highly anticipated global event, with particular focus on the slew of executive actions concerning immigration, energy and tariffs that he has pledged to sign on day one.
Giving some relief to investors, a Wall Street Journal report said Trump will stop short of imposing new tariffs on key trading partners on his first day in office.
In corporate news, eyecare provider Kits Eyecare reported a 42% growth in its fourth-quarter revenue, which also surpassed analysts' expectations. Kits moved into Monday afternoon ahead 32 cents, or 4.1%, to $8.22.
Oil prices declined $1.04 to $76.84 U.S. a barrel.
Prices for gold retreated $24.10 an ounce to $2,724.60 U.S.
ON BAYSTREET
The TSX Venture Exchange slid 0.25 points to 616.09.
All but three of the 12 TSX subgroups were positive midday, led by energy, ahead 1.6%, while health-care zoomed 1% and communications picked up 0.7%
The three laggards were financials, off 0.1%, while information technology lost 0.03% and consumer staples were off 0.01%. ON WALLSTREET
U.S. markets were closed Monday for Martin Luther King Day, and also paused to recognize incoming President Donald Trump