Canadian equities climbed to a record as gold and oil lifted mining and energy stocks, while investors tracked U.S.-Iran tensions, earnings from major companies and trade talks with Washington.
The S&P/TSX Composite Index rose nearly 1% to trade above 35,500, reaching a record high as higher gold and oil prices supported mining and energy shares. Gold gained on safe-haven demand amid escalating U.S.-Iran tensions, lifting Agnico Eagle, Barrick, WPM and Franco-Nevada by nearly 2%, while concerns over energy supply helped oil prices and boosted Canadian Natural, Imperial Oil, Suncor and Cenovus. Investors were also watching earnings, with Cenovus due to report on Thursday, Waste Connections set to release results after the close, and Alphabet and Tesla also scheduled to post quarterly numbers. On trade, Prime Minister Carney said late Tuesday that he and U.S. President Trump agreed to intensify negotiations after Trump unveiled plans to impose 50% tariffs on a broad range of Canadian imports.