08.10.202520:03:01UTC+00TSX Rises Toward Record Highs

The S&P/TSX Composite index experienced a 0.5% increase, surpassing 30,502 on Wednesday, approaching all-time highs. This upward movement was driven by strong performances in the mining and energy sectors, aligning with a rally in US technology stocks. The price of gold exceeded $4,000 per ounce, benefitting gold mining and exploration companies, while a robust copper market supported base-metal producers and processors. Notable gainers included Ivanhoe Mines with a 5.8% rise, First Quantum at 4.4%, Barrick at 2.1%, Agnico Eagle at 2%, and Teck Resources at 1.4%. Meanwhile, Shopify, a large-cap company, bounced back by 3.3% following a previous dip, and Celestica saw a significant surge of 7.2%. Additionally, discussions between Canadian officials and the White House led to assurances of equitable tariff treatment for Canadian exporters, mitigating a major risk; however, the US's commitment to the trilateral trade agreement with Mexico remains uncertain.