25.02.202614:43:04UTC+00TSX Extends Record Setting Momentum

Canada's S&P/TSX Composite Index climbed about 0.3% on Wednesday, breaking above the 34,000 mark for the first time, as strong bank earnings more than offset weakness in the fleet management space. Financials led the advance after Bank of Montreal jumped more than 3% on better-than-expected Q1 profits, while National Bank of Canada surged nearly 5% following a similarly robust report tied to its acquisition of Canadian Western Bank. In contrast, Element Fleet Management slumped 8.5% after its Q4 results fell short of analyst forecasts. Commodity-linked stocks added further support: gold producers benefited from higher bullion prices amid a softer US dollar, and energy names held firm as crude oil stayed elevated with traders tracking US-Iran nuclear talks and military developments in the Middle East. The technology sector also remained strong, with Shopify gaining more than 2.5% and Thomson Reuters extending its rally by 4.5%.