TSX Stays Firm as Oil Prices Plummet

Canada's main stock market, the TSX, remained steady on Monday morning, despite a decline in oil prices. The benchmark index opened at 35,809.29, up just 2.64 points from Friday.

The Canadian dollar also took a slight hit, losing 0.12 cents to trade at 71.49 cents. Oil prices dropped more than 3%, putting pressure on energy stocks, which were down 2.1% overall.

First Majestic Silver led the losses in the precious metal sector, dipping $1.31 or 4.7% to $26.88 per share. Equinox Gold also fell, losing 44 cents or 2.5% to $17.07.

The TSX's gains this year have been largely driven by the commodity-heavy index, which has risen nearly 13%. This outpaces the S&P 500's 11.8% gain in the same period.