FX.co ★ TSX Rises on Election Day

On Monday, the S&P/TSX Composite Index experienced an uptick of roughly 0.4%, surpassing the 24,780 mark. This performance marked its highest point in over three weeks. Investors exhibited cautious optimism as the nation moved closer to a general election, with the primary political parties endorsing growth-oriented, trade-friendly platforms. Consequently, the investment community seemed increasingly inclined to channel funds towards Canadian equities as the election drew near. Furthermore, initial signs of easing trade tensions between the U.S. and China, coupled with the Bank of Canada's readiness to adopt an accommodative stance if necessary, contributed to a strengthened sense of market confidence. The technology and financial sectors spearheaded the growth, with Shopify increasing by 0.8% and Constellation Software advancing 1.7%. Meanwhile, TD Bank, Brookfield, CIBC, and Manulife saw gains ranging from 1% to 1.5%.