24.11.202514:51:04UTC+00TSX Tracks US Peers Higher

Investors saw a slight uptick in the S&P/TSX Composite Index on Monday, with the index advancing approximately 0.2% to exceed the 30,200 mark. The optimism was fueled by an increased likelihood of a US Federal Reserve rate cut in December, following comments from Fed official John Williams, who suggested that rates might decline "in the near term." This sentiment comes in anticipation of key US retail sales and producer prices data expected later in the week. Rate cut expectations buoyed rate-sensitive sectors, with technology and significant mining companies leading the charge. Notably, Shopify experienced an increase of just over 1%, while Constellation Software saw a near 1% rise. Barrick Mining surged by more than 4% after Mali’s government announced a verbal agreement in principle to resolve the Loulo Gounkoto dispute. Similarly, Agnico Eagle and Wheaton Precious Metals each gained approximately 1.5%. Conversely, energy majors faced setbacks as Canadian Natural Resources dipped around 1.5%, influenced by declining oil prices amid reports suggesting a potential Ukraine peace deal could ease sanctions on Russian exports.