FX.co ★ TSX Starts Week Just Below Record Highs

On Monday, the S&P/TSX Composite index rose just above 27,050 points, primarily due to significant gains in a select number of major companies. These gains helped counteract the overall market caution fueled by new U.S. tariff threats, which have sparked concerns about a potential global trade slowdown, adversely impacting sectors that rely heavily on exports. Over the weekend, President Trump announced a 30% tariff on the European Union and Mexico, adding to existing tariffs on Canada, prompting investors to become risk-averse. Nevertheless, the market received some support from Thomson Reuters shares, which surged over 6%, and a 1% increase in Shopify's stock. On the flip side, railway stocks experienced declines due to fears of reduced cross-border freight volumes, while companies in the financial and energy sectors remained largely unchanged.