Canada’s S&P/TSX Composite Index gained 0.5% on Wednesday to close at a record high of 34,127, lifted by strong bank earnings and a rally in technology shares. Financials led the advance after National Bank of Canada jumped 6.6% and Bank of Montreal climbed 3.8% on better-than-expected first-quarter profits. Those moves, along with a 2.5% rise in CIBC and a 2% gain in TD, more than offset a 5.5% decline in Loblaw and a 2.2% drop in Canadian National Railway.
Technology stocks continued to provide a solid tailwind, with Shopify up 2.6% and Thomson Reuters surging 10.1%, supported by broader optimism ahead of key U.S. software earnings. Commodity-linked names were mixed, and shares of Barrick Gold and Canadian Natural Resources edged lower, but the strength in Bay Street’s heavyweight sectors secured the record-setting session. Investors now turn to Nvidia’s post-market results, which are expected to shape near-term momentum for the TSX’s technology and diversified sectors.
