Bay Street Looks Headed For Firm Start As Commodity Prices Climb Higher

(RTTNews) - Canadian stocks look headed for a positive start Tuesday morning as shares from energy and materials sectors are likely to see some brisk buying thanks to rising commodity prices.

West Texas Intermediate Crude oil futures are up $0.36 or 0.55% at $62.50 a barrel.

Gold futures are up $299.70 or 6.44% at $4,952.30 an ounce, while Silver futures are gaining $10.656 or 13.8% at $87.655 an ounce. Copper futures are up more than 4% at $6.0655 per pound.

Colliers International Group Inc. (CIGI) announced today hat it has agreed to acquire Ayesa Engineering S.A.U., the engineering unit of Spanish company, Ayesa Inversiones S.L.U. for around $700 million in cash.

The acquisition will result in Colliers Engineering operating in 23 countries with nearly 14,000 professionals, delivering services across Property & Buildings, Infrastructure & Transportation, Water, and Environmental end markets, the company said in a statement.

Canadian stocks moved higher on Monday as stronger-than-expected Purchasing Managers' Index data that showed expansion in the manufacturing sector helped lift investor sentiment.

The benchmark S&P/TSX Composite Index stayed firm throughout the session before settling at 32,183.88, up by 260.36 points or 0.82%.

The S&P Global's Canada Manufacturing Purchasing Managers' Index rose to 50.4 for January 2026 from 48.6 in the previous month, marking the end of an eleven-month downturn.

Asian stocks closed higher on Tuesday as precious metals clawed back some ground after a historic sell-off and U.S. President Donald Trump announced that he agreed to a trade deal with India, helping ease trade tensions.

Gold and silver futures recovered today after a steep sell-off triggered by the nomination of Kevin Warsh as chairman of the U.S. Federal Reserve.

European stocks are turning in a mixed performance. The major markets in the region opened on a positive note, but pared gains subsequently, with investors looking for directional clues ahead of the European Central Bank's monetary policy meeting this Thursday.