FX.co ★ TSX Nears Record High on Mining Gains

The S&P/TSX Composite Index advanced nearly 0.5% on Friday to trade above 35,000, moving closer to record territory as mining shares led the market higher. A rebound in gold prices supported the sector, with Agnico Eagle Mines and Barrick Gold each gaining about 1%, Wheaton Precious Metals rising more than 1.5%, and Teck Resources extending its rally by nearly 2% after exceeding profit expectations.

At the same time, the recent oil rally paused, tempering energy-driven inflation worries. Softer bond yields bolstered financials and the broader index, with Bank of Montreal, Bank of Nova Scotia, and Brookfield all advancing more than 0.5%.

In the technology sector, Constellation Software climbed 1.5% and Shopify added nearly 0.5%, while Celestica dropped about 5.5%, reflecting a broader selloff in U.S. semiconductor names. Energy stocks remained firm as crude prices held at relatively high levels despite the pullback, with Canadian Natural Resources up 0.5% and Cenovus Energy edging higher ahead of its earnings release.

Canadian National Railway slipped 0.8% and is also scheduled to report results later today.