The Globe and Mail reports in its Tuesday edition that Canada's main stock index rose to a record high on Monday as gains for financial and metal mining shares overshadowed losses for energy stocks after turmoil in Venezuela. A Reuters dispatch to The Globe says Wall Street also ended higher, with surging financial shares helping to lift the Dow to an all-time peak. The S&P/TSX Composite Index ended up 336.58 points at 32,219.95, eclipsing the Dec. 23 high. "Nothing can stop the freight train that is the TSX. It just seems to have all the right allocations for today's market," said Barry Schwartz at Baskin Wealth Management. "Gold's a driver today, the banks are unstoppable ... there's no better place to be when stock markets are at record highs than financial stocks." Financials added 1.6 per cent, while the materials group ended 3.3 per cent higher after U.S. strikes in Venezuela added to gold's safe-haven appeal. The precious metal was up 2.7 per cent. The energy sector fell 3.6 per cent, with Canadian Natural Resources down 6 per cent despite oil settling higher at $58.32 (U.S.) a barrel. Mr. Schwartz, however, dismissed worries that a flood of Venezuelan oil will displace Canadian heavy crude any time soon.
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