Canada Stocks: TSX extends record-setting run, led by gold and financial stocks

Air Canada

12/08/2026 21:35

Updates throughout at market close
By Fergal Smith
Aug 12 (Reuters) - Canada's main stock index rose to another record high on Wednesday, led by financial and metal mining shares, as investors cheered U.S. inflation data, as well as an upbeat travel outlook from Air Canada and recent signs the domestic economy is strengthening.
The S&P/TSX Composite Index .GSPTSE ended up 186.22 points, or 0.5%, at 36,662.14, surpassing Tuesday's record closing high.
"We are seeing continued bullishness toward Canada," said Colin Cieszynski, chief market strategist at SIA Wealth Management. "We had that spectacular employment report earlier this month and I think that woke a lot of people up to just how well Canada is doing."
Data last Friday showed that Canada's economy added many more jobs than expected last month and the unemployment rate dropped to a two-year low.
Recent strength in commodity markets and upbeat corporate earnings have also contributed to positive sentiment toward the Toronto market, Cieszynski said.
The materials group .GSPTTMT, which includes metal mining shares, was up 0.7%. Gold XAU= rose 1% to a two-month high after a U.S. inflation reading matched expectations, bolstering bets that the Federal Reserve will keep rates on hold in September.
Heavily weighted financials .SPTTFS added 1.1% and energy was up 0.4%. The price of oil CLc1 settled 0.1% higher as attacks on ships in the Middle East continued and talks to end the Iran war hit an impasse.
Air Canada AC.TO was a standout. Its shares surged 12.2% after the airline said it is expecting one of its strongest fall seasons, helped by corporate travel, despite cost pressures that led the carrier to set its latest annual core profit target below analysts’ expectations.
Just two of 10 major sectors ended lower, including consumer staples .GSPTTCS. It was down 0.4%.

 (Reporting by Fergal Smith in Toronto and Sudeshna Ghoshal in Bengaluru; Editing by Sahal Muhammed and Deepa Babington)
 ((fergal.smith@thomsonreuters.com; +1 647 480 7446))