The Globe and Mail reports in its Tuesday edition that Canada's commodity-heavy main stock index climbed on Monday, with rising gold prices boosting materials stocks and wildfires in the country's oil-producing province threatening supply. A Reuters dispatch to The Globe says the S&P/TSX Composite Index closed up 213.91 points at 26,388.96, touching another record high. The materials group gained 4.3 per cent, tracking higher gold prices. Oil prices climbed nearly 3 per cent on Monday, despite OPEC+ sticking with plans to increase production. The energy subindex rose 1.8 per cent. The wildfires in Alberta have affected more than 344,000 barrels a day of oil sands production, or about 7 per cent of the country's overall crude oil output, and led to the evacuation of workers at two thermal oil sands operators south of Fort McMurray over the weekend. U.S. stocks also closed higher, boosted by the technology group. Investors were still optimistic over trade talks between the United States and its trading partners despite President Donald Trump's latest salvo to double tariffs on imported steel and aluminum. Jobs data in Canada and the U.S. will be released Friday and the Bank of Canada's rate decision comes tomorrow.
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