FX.co ★ TSX Extends Gains in Afternoon Trading

The S&P/TSX Composite Index experienced a 0.6% increase on Wednesday afternoon, surpassing the 25,100 threshold. This upward trend was driven by the easing of global trade tensions and a supportive U.S. policy environment, which favored financial and technology stocks. The technology sector led the advance, with Shopify appreciating by more than 1.5% and Constellation Software gaining approximately 1%. Key financial institutions such as RBC, TD, Brookfield, BMO, Scotiabank, and Manulife saw increases exceeding 0.6% each. In earnings-related news, Barrick Gold saw an increase of over 1% following the release of better-than-expected first-quarter profits. Additionally, Prime Minister Carney’s initial meeting with U.S. President Trump was described by both parties as constructive, alleviating fears of rising trade tensions despite the absence of concrete policy changes. Optimism for reduced trade tensions was further supported by the anticipated gathering of U.S. and Chinese officials in Switzerland this upcoming weekend. Concurrently, the Federal Reserve left interest rates unchanged and continued its balance sheet reduction, while highlighting the rising economic uncertainties due to ongoing trade disputes.