The S&P/TSX Composite Index gained 1% on Wednesday to close at a record high of 36,146, its second straight record finish. Shopify led the advance, surging 16.5%—its largest single-day gain in a year—after issuing an upbeat revenue outlook that suggested its AI initiatives are drawing more merchants to its e-commerce platform.
Mining stocks also rallied as gold prices jumped on optimism over a potential US–Iran peace deal, which eased some inflation concerns. Agnico Eagle rose 9.6%, Barrick added 7.2%, WPM climbed 7.2%, Kinross gained 8.6%, and Eldorado Gold advanced 12.8%, while other miners posted increases ranging from 1.2% to 10%.
In contrast, Thomson Reuters fell 10.2% despite beating second-quarter profit and revenue forecasts and raising its full-year revenue growth outlook. Manulife Financial (-0.9%) and Nutrien (-0.3%) edged lower ahead of their earnings releases.
