TSX Holds Steady Amid Decline in Oil Prices

The TSX in Canada held steady on Monday morning, despite a more than 3% dip in oil prices that pressured energy stocks. The index opened at 35,809.29 after a 2.64 point gain.

Oil prices fell $4.48 to $95.82 US per barrel, while gold prices dropped $36.50 to $4,388.40 US an ounce. This weighed down precious metal stocks like First Majestic Silver, which dipped $1.31 or 4.7%, and Equinox Gold, which declined 44 cents or 2.5%.

The Canadian dollar also lost value, dropping 0.12 cents to 71.49 cents. The commodity-heavy TSX has gained nearly 13% so far this year, outperforming the US S&P 500's 11.8% increase.