The Globe and Mail reports in its Tuesday edition that Canada's main stock index climbed to five-week highs on Monday, as investors expressed relief that the country would avoid immediate U.S. trade tariffs from President Donald Trump. A Reuters dispatch to The Globe says that energy and industrial shares led gains in Toronto. "There is a collective sigh of relief," said Greg Taylor at Purpose Investments. "This is probably a lot more measured than some had feared and that's why we're seeing more green on the screen today and a bit of a bounce in the energy stocks and some of the materials." Trading volumes were lighter than usual with U.S. markets closed. U.S. futures markets were open, however, and traded higher following the inauguration, with contracts on the S&P 500 index up around 0.3 per cent. The S&P/TSX Composite Index ended up 103.66 points at 25,171.58, its fifth straight day of gains. Industrials rose 0.8 per cent, helped by a gain of 7.2 per cent for Bombardier. Energy was up 2.3 per cent despite lower oil prices. Shares of Canadian Natural Resources added 4.4 per cent. By late afternoon, the Canadian dollar was trading 1.1 per cent higher at 1.4325 per U.S. dollar, or 69.81 U.S. cents.
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