Canada’s benchmark index closed higher after touching a record intraday high, with gold and oil-linked shares advancing on stronger commodity prices while technology stocks retreated ahead of major U.S. earnings.
The S&P/TSX Composite Index rose 0.3% to close at 35,485 after touching a record high earlier in the session, supported by gains in mining and energy stocks as gold and oil prices climbed. Gold producers advanced as the U.S. dollar softened and safe-haven demand strengthened amid escalating tensions between the U.S. and Iran, while energy shares tracked higher crude prices on concerns over possible disruptions to Middle Eastern supply routes. Agnico Eagle gained 3.5%, Barrick added 2.8%, WPM rose 1.1% and Franco-Nevada advanced 3.1%. In energy, Canadian Natural rose 1.8%, Imperial Oil gained 0.8%, Suncor added 1.5% and Cenovus advanced 0.6% ahead of its earnings report on Thursday. Technology stocks lagged, with investors turning cautious before earnings from U.S. technology giants Alphabet and Tesla. Shopify fell 3.9%, Constellation Software lost 2.1% and Celestica declined 1.4%.