FX.co ★ TSX Rebounds Toward Record Highs

The S&P/TSX Composite Index climbed approximately 0.6%, surpassing the 29,950 level on Wednesday, as the Toronto Stock Exchange regained momentum towards all-time highs facilitated by advancements in international trade negotiations. Canadian Prime Minister Mark Carney highlighted the positive dialogue with Chinese Premier Li Qiang, where both parties expressed a readiness to resolve recent trade tensions. In recent months, Ottawa and Beijing have implemented reciprocal tariffs, notably affecting canola and certain manufactured items. Carney indicated that ongoing discussions with the United States concerning lingering trade matters will contribute to an upcoming assessment of the USMCA. The surge was primarily buoyed by significant gains in the base metal mining sector, with Teck Resources, First Quantum, and Ivanhoe Mines witnessing a rise of approximately 4.5% to 8% following an increase in copper prices and optimism for reduced trade constraints bolstering sales forecasts. Meanwhile, energy companies such as Canadian Natural Resources, Suncor, Imperial Oil, and Cenovus also delivered strong performances, each rising about 1.3% to 2.4% as oil benchmarks continued their recovery trend.