Canadian Equities Surge to Record Levels; Materials Sector Leads Market Advance Amid Safe Haven Demand

fork_in_the_road · 2026-01-12T17:30:22+00:00

The Canadian stock market surged on Monday, with the S&P/TSX Composite Index closing up 1.3%. Gains in the materials sector, driven by rising precious metal prices, led the rally. Real estate and financial stocks also performed well, while energy stocks declined.

fork_in_the_road

2026-01-12 17:30:22

Abstract generation in progress

The Canadian stock market experienced a significant rally on Monday afternoon, with the benchmark S&P/TSX Composite Index reaching a fresh peak of 32,313.11 and closing up 410.14 points or 1.3% at 32,293.51. The robust high jump in equities was predominantly driven by the materials sector, which benefited from surging precious metal prices following geopolitical developments over the weekend.

Safe haven demand triggered a sharp advance in commodity prices. Gold futures climbed approximately 3%, while silver futures jumped dramatically by 7.5% and copper futures advanced 5.1%. This metals surge propelled the Materials Capped Index upward by 4.5%, making it the session’s star performer. Endeavour Silver Corp. led the gainers with an impressive 11% climb, while other mining and metals companies posted substantial gains. Novagold, Perpetua Resources, First Majestic Silver Corp., Ngex Minerals, Lundin Mining Corp., Capstone Mining, Methanex Corp., Fortuna Mines, Seabridge Gold and Equinox Gold each advanced between 6% and 9%.

Beyond materials, real estate stocks demonstrated notable strength during the session. CDN Apartment, Kiliam Apartment, Primaris, Boardwalk Real Estate Investment, Colliers International Group, Dream Industrial, Northwest Healthcare, FirstService Corp., H&R Real Estate and CT Real Estate recorded gains ranging from 2% to 5%.

The financial sector also participated in the broader market advance. Trisura Group, Sprott, Brookfield Corporation, Igm Financial, Onex Corp., Power Corporation of Canada, Brookfield Asset Management, IA Financial Corp., and Manulife Financial posted gains between 2% and 5.6%.

Energy stocks, however, moved in the opposite direction. Cenovus Energy, Parex Resources, Canadian Natural Resources, Vermilion Energy, Baytex Energy, Trican Well Service, Kelt Exploration, Whitecap Resources, Paramount Resources and Arc Resources declined 3% to 5.7%. Other market laggards included Celestica, Intefor, Tilray, Boralex, Dollarama, Kinaxis, Fortis, TransAlta, Nutrien, Canadian Utilities and Canadian Pacific Railway, which posted losses across various sectors.

This page may contain third-party content, which is provided for information purposes only (not representations/warranties) and should not be considered as an endorsement of its views by Gate, nor as financial or professional advice. See Disclaimer for details.