FX.co ★ TSX Closes at Fresh Record

On Tuesday, the S&P/TSX Composite Index reached a new peak, closing 0.8% higher at 26,269. This rise was supported by strong performance in Wall Street and positive sentiment towards Toronto's dominant financial sector. Notably, shares of Scotiabank increased by 1.51%, following their mixed Q2 earnings report where the negative impact of missed earnings was counterbalanced by the announcement of a 20 million share buyback. Additional financial institutions also saw gains in anticipation of their upcoming earnings reports this week, with RBC and TD Bank each rising nearly 1%, and Manulife and Sun Life both advancing 1.5%. Meanwhile, equities in more volatile sectors continued their upward trend, as the U.S. President Trump's decision to postpone tariffs against the EU eased fears of a potential trade conflict. This encouraged a rise in tech shares, with Shopify surging nearly 3% to lead the sector. Conversely, gold mining stocks experienced a slight decline due to decreased demand for safe-haven assets, exemplified by Agnico Eagle's 0.6% drop.