The S&P/TSX Composite Index rose 0.7% to a record close of 33,257, extending its recent winning streak as gains in technology and financials more than offset weakness in energy. Sentiment remained cautious, however, with investors looking ahead to key US economic data due later in the week.
Technology shares led the advance, powered by a sharp rally in Shopify, which jumped 7.4% after MoffettNathanson upgraded the stock to “buy,” citing stronger execution and growing confidence in the company’s AI‑driven commerce strategy. Financials were also broadly firmer. Bank of Montreal added 0.6% after unveiling new leadership appointments in its capital markets division, and other major banks posted modest gains.
Materials benefited from selective strength in precious metals producers, even as gold prices slipped late in the session following a strong recent run. By contrast, energy stocks lagged after oil prices retreated toward $64 per barrel, easing market concerns about potential supply disruptions in the Middle East.
