FX.co ★ TSX Rises on Mining and Major Banks Gains

The S&P/TSX Composite Index climbed nearly 1% on Tuesday, moving back above the 33,000 mark, supported broadly by gains in miners, banks, and technology stocks. Gold-related shares advanced ahead of tomorrow’s widely expected Federal Reserve rate hold, with Agnico Eagle, Wheaton Precious Metals, and Franco-Nevada each rising close to 2%. Expectations that the Bank of Canada will also keep rates unchanged on Wednesday helped push Canadian bond yields lower. Major banks traded higher, with TD Bank and Royal Bank of Canada both up about 1%. In the technology sector, Shopify jumped more than 3.5%, extending the recent momentum in tech names. Energy producers were mixed as uncertainty over the global oil supply outlook persisted: Tourmaline Oil added around 1%, while Canadian Natural Resources and Imperial Oil slipped slightly.