Canada Stocks: TSX rises to record high as technology shares jump

Magna International

27/07/2026 21:23

TSX ends up 0.6% at 35,568.14
Eclipses July 22 record closing high
Tech adds 6.9% as Shopify jumps 11.6%
Energy falls 2.9% as oil settles 7.5% lower
Updates at market close
By Sudeshna Ghoshal and Fergal Smith
July 27 (Reuters) - Canada's main stock index rose to a record high on Monday, led by technology shares, as the potential for a strong corporate earnings season offset recent geopolitical uncertainty.
The S&P/TSX Composite Index .GSPTSE ended up 199.04 points, or 0.6%, at 35,568.14, moving past the record closing high it posted last Wednesday.
"Earnings season will continue to be constructive," said Michael Dehal, a senior portfolio manager at Dehal Investment Partners at Raymond James. "And I think the focus can just be more on corporate earnings than geopolitical tensions."
Celestica Inc CLS.TO, Agnico Eagle Mines Ltd AEM.TO, Magna International Inc MG.TO and Enbridge Inc ENB.TO were among the major companies set to report earnings this week.
U.S. President Donald Trump said that the United States was having "good talks" with Iran and there was a chance of a deal over their conflict, but warned U.S. strikes would resume if the negotiations failed to deliver.
Investors were also awaiting a Federal Reserve interest rate decision on Wednesday.
The technology sector .SPTTTK climbed 6.9%, with shares of e-commerce company Shopify Inc SHOP.TO up 11.6%.
Consumer discretionary .GSPTTCD added 2.2% and heavily weighted financials .SPTTFS ended 0.6% higher.
The materials group .GSPTTMT, which includes metal mining shares rose 0.4%. The price of gold XAU= was up 0.7% as a pullback in oil prices eased concerns about the inflation outlook and the prospect of higher U.S. interest rates.
U.S. crude oil futures CLc1 settled 7.5% lower at $82.61 a barrel which weighed on energy shares. Energy .SPTTEN ended 2.9% lower.

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