Canada Stocks: TSX hits record high as mining and technology shares jump

Telus

04/08/2026 21:28

TSX ends up 1.6% at 35,801.59
Eclipses last Tuesday's record closing high
Materials group jumps 5.2% as gold climbs
Tech adds 7.1%, with Celestica up 12.9%
Updates at market close
By Sudeshna Ghoshal and Fergal Smith
TORONTO, Aug 4 (Reuters) - Canada's main stock index rose to a record high on Tuesday, led by gains for technology and metal mining shares, as hopes rose for a reduction in Middle East tensions.
The Toronto Stock Exchange's S&P/TSX Composite index .GSPTSE ended up 575.45 points, or 1.6%, at 35,801.59, marking its biggest one-day gain since April 30 and eclipsing the record closing high it posted last Tuesday.
U.S. benchmark, the S&P 500, also scaled a record closing high, powered by the latest batch of earnings from AI-related companies that assuaged demand concerns, while crude prices and Treasury yields dropped on hopes for a deal in the U.S.-Iran war.
Qatar said mediators were making progress in efforts to end the conflict.
"There's some renewed relief coming from the Gulf states right now," said Sartorial Wealth CEO Shiraz Ahmed. "Markets are getting a bit of a breather." 
The materials group .GSPTTMT, which includes metal mining shares, advanced 5.2%, led by a gain of 15.8% for the shares of Americas Gold and Silver USA.TO.
The price of gold XAU= was up 0.6% as the drop in oil prices tempered inflation fears, lowering U.S. interest rate hike bets.
Technology .SPTTTK added 7.1%, with shares of electronic equipment company Celestica Inc CLS.TO up 12.9%.
Industrials .GSPTTIN rose 3.1% and heavily weighted financials .SPTTFS ended 0.8% higher.
WestJet, majority-owned by Onex Corp ONEX.TO said it was gradually resuming operations after reaching a tentative agreement with its flight attendants, ending a strike that caused hundreds of cancellations during a Canadian holiday weekend. Shares of Onex were up 5.6%.
Four of the 10 major sectors fell, including energy, which lost 2.9%, as the price of oil CLc1 settled 5.7% lower at $75.77 a barrel.
Data showed that Canada's trade surplus hit a four-year high of C$3.86 billion ($2.75 billion) in June, when a weaker Canadian dollar helped inflate the value of exports and imports.

 (Reporting by Fergal Smith in Toronto and Sudeshna Ghoshal in Bengaluru; Editing by Vijay Kishore and Alistair Bell)
 ((fergal.smith@thomsonreuters.com; +1 647 480 7446))