TORONTO — Canada's main stock index rose more than 100 points and the loonie climbed higher on Monday.
The gains came as U.S. media reported that Donald Trump would likely hold off on imposing tariffs on Canadian exports to the U.S. on his first day in office.
The S&P/TSX composite index closed up 103.66 points at 25,171.58 on the day of Trump's swearing in as president.
Trump has threatened to impose sweeping tariffs on Canadian imports that could significantly harm Canadian companies that rely on business from the U.S.
The Canadian dollar traded for 69.78 cents US compared with 69.28 cents US on Friday.
U.S. stock and commodity markets were closed for Martin Luther King Jr. Day.
This report by The Canadian Press was first published Jan. 20, 2025.
Companies in this story: (TSX:GSPTSE, TSX:CADUSD)
The Canadian Press
