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S&P/TSX Composite Climbs 0.56% to New All-Time High on Tech Sector Gains
Canada's main stock index, the S&P/TSX Composite, closed at a new all-time high on Monday, gaining 0.56% for the session. The advance was primarily driven by strong investor appetite for technology, consumer discretionary, and consumer staples stocks.
Sector and Stock Movers
The information technology sector was a standout performer, propelling the broader market upward. Several large-cap names posted significant gains, leading the index higher:
- Shopify Inc (TSX:SHOP) surged 11.64%, adding 18.68 points to close at 179.14.
- Thomson Reuters Corp (TSX:TRI) rose 8.57%, ending the day at 137.93.
- WSP Global Inc (TSX:WSP) climbed 6.97% to finish at 172.37.
In contrast, industrial and infrastructure-related stocks faced selling pressure. The day's worst performers included Badger Infrastructure Solutions Ltd (TSX:BDGI), which fell 8.44%, and Finning International Inc. (TSX:FTT), which declined 7.51%.
AdBroader Market and Commodities
Overall market breadth was positive, with 574 stocks advancing on the Toronto Stock Exchange compared to 399 decliners, according to market data. Investor sentiment appeared calm, as the S&P/TSX 60 VIX, a measure of implied volatility, fell 1.14% to 14.71.
The gains in equities occurred despite a sharp downturn in the energy market. Crude oil for September delivery plummeted 8.32% to $81.88 a barrel. In precious metals, Gold Futures for August delivery saw a modest gain of 0.24% to settle at $4,080.55 a troy ounce. In foreign exchange, the Canadian dollar was relatively stable against the U.S. dollar.
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