Updates
By Utkarsh Hathi
Jan 5 (Reuters) - Canada's main stock index touched a record high in intraday trading on Monday, lifted by mining stocks as the turmoil in Venezuela drove investors towards safe-haven assets, including bullion and other precious metals.
Toronto's commodities-heavy S&P/TSX Composite index .GSPTSE was up 1.1% at 32,220.71 points as of 10:49 a.m. ET, after touching a record 32,229.94 points earlier in the session.
Gold XAU= jumped more than 2.5% to a one-week high, while silver soared over 5.5% after the U.S. captured Venezuelan President Nicolas Maduro over the weekend. GOL/
Gold miners .SPTTGD surged 4.5%, while the broader materials sector .GSPTTMT was up 4.3%, both poised for their biggest single-day gains in nearly six weeks.
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.
But TSX's energy sub-index .SPTTEN had its biggest single-day fall in nearly nine months, dropping more than 5%.
"An interesting commodity to watch is obviously going to be oil. If the U.S. is able to take over, if they're able to produce more oil out of Venezuela, that could mean more oil production for the world and lower oil prices down the road," said Allan Small, Senior Investment Advisor at Allan Small Financial Group, iA Private Wealth.
The TSX wrapped up 2025 with its best annual performance since 2009, surging more than 28% and outperforming major U.S. stock indexes. Materials stocks doubled in value over the year, while robust earnings from Canada’s "Big Six" banks added further support.
In notable share moves, Minto Apartment MI_u.TO jumped 26.8% after it said Crestpoint Real Estate Investments will take the company private in all-cash $2.3 billion deal.
(Reporting by Utkarsh Tushar Hathi; Editing by Jonathan Ananda)
((utkarshtushar.hathi@thomsonreuters.com))
