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TSX Eyes Gains as Trump-Xi Summit Looms and Oil Steadies Near $95

Canadian Money Brief · Monday, May 11, 2026 Canadian equities are set for a cautious but constructive open this Monday as investors balance a packed macro calendar against an energy sector still reeling from one of its most volatile weeks in recent memory. TSX at a Glance The S&P/TSX Composite closed Friday at 34,077.76 , up 221 points (+0.65%) to cap a week dominated by whipsaw oil moves and a fragile Middle East ceasefire. The energy sector has led TSX gains over the past seven days — up roughly 5% — even as WTI crude fell about 7% on the week, settling near $95.42 per barrel . That apparent contradiction reflects Canadian producers' longer-term optimism on supply tightness rather than any single day's price swing. For the year, the TSX is up approximately 35%, outpacing most major global benchmarks. The Big Story: Trump Heads to Beijing All eyes this week will be on Washington and Beijing. President Donald Trump is scheduled to arrive in China on Wednesday , with formal ...

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Catastrophic Floods in Valencia Claim Over 95 Lives

 

In a devastating turn of events, torrential rains have wreaked havoc in Valencia, Spain, resulting in the deaths of at least 95 people. The region experienced an unprecedented deluge, with a year’s worth of rain falling in just eight hours. This catastrophic weather event has been described as the worst natural disaster in Spain’s modern history.

The intense rainfall transformed streets into raging rivers, sweeping away cars and trapping residents in their homes. Emergency services have been working tirelessly to rescue those stranded and to recover the bodies of the deceased. Over 1,000 soldiers have been deployed to assist in the rescue operations.

The Spanish government has declared a state of emergency in the affected areas, with Prime Minister Pedro Sanchez expressing his condolences to the victims’ families and pledging support for the rebuilding efforts. The full extent of the damage is still being assessed, but the impact on the local communities is profound, with many homes and businesses destroyed.

As the region begins to recover from this disaster, the focus remains on finding the missing and providing aid to those affected. The resilience and solidarity of the Spanish people will be crucial in the days and weeks to come as they navigate the aftermath of this unprecedented flood.


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