FX.co ★ Canadian Stocks Rise to New Record

On Wednesday, the S&P/TSX Composite Index made history by surpassing the 26,310 mark for the first time, buoyed by the positive sentiment among U.S. indices. This uptick reflected diminished trade barrier concerns and robust performance from Toronto's key financial sector. Notably, Bank of Montreal's shares climbed nearly 3% after it exceeded earnings expectations for the second fiscal quarter. Similarly, the National Bank of Canada experienced a rise of over 3%, driven by its financial markets division's profit boost. These gains contributed to a strong financial sector performance, building on yesterday’s positive results from Scotiabank, with RBC and CIBC also trading positively in anticipation of their upcoming earnings reports. However, Suncor Energy and Canadian Natural saw slight declines amid a subdued session for oil producers.