FX.co ★ TSX Nears Record High

The S&P/TSX Composite Index experienced a modest increase of 0.2% on Tuesday, closing at 26,426, narrowly missing last week's all-time high. The uptick was attributed to positive sentiment surrounding possible improvements in trade relations between the US and China. Market participants were encouraged by reports of smooth export-control discussions in London, with indications that the US might consider loosening semiconductor restrictions in return for faster delivery of rare-earth materials. This potential reduction in supply chain barriers uplifted global trade outlooks, bolstering the demand prospects for Canada's commodity-centric export sector. The gains spanned multiple sectors, primarily driven by the energy sector, as shares of companies like Canadian Natural Resources, Suncor, Imperial Oil, and Cenovus saw increases ranging from 1.6% to 2.4%. Additionally, e-commerce leader Shopify posted a strong performance with a 2.2% increase.