20.08.202513:42:44UTC+00TSX Lifted by Commodity Producers

On Wednesday, Canada's S&P/TSX Composite Index experienced a modest increase of 0.3%, surpassing the 27,880 threshold. This uptick was largely driven by elevated oil and gold prices, which bolstered the resource-centric index. Notable gains were seen in major mining stocks such as Agnico Eagle, Wheaton Precious Metals, and Barrick Gold, each climbing over 1%. Similarly, Canadian Natural Resources, a prominent figure in the energy sector, also advanced by over 1%. However, the overall momentum was tempered by declines in significant Toronto-based technology companies. Shopify's shares slipped by 0.8% and Celestica's by 1.5%, reflecting renewed skepticism about the ongoing robustness of the US technology stock surge. Market participants are now directing their focus to Federal Reserve Chair Jerome Powell's upcoming speech on Friday, eager for any indications that may counter the rising sentiments anticipating a potential interest rate cut as soon as next month.