15.01.202621:03:31UTC+00TSX Climbs to Record Highs

On Thursday, the S&P/TSX Composite Index appreciated by 0.3% to reach a new peak of 33,029, continuing its upward trajectory. This advancement was driven primarily by strong performances in the financial, industrial, and select materials sectors, which offset downturns in energy and certain areas of technology. Among financials, banks were pivotal, with Royal Bank increasing by 0.5%, TD Bank rising by 0.4%, BMO appreciating by 1.3%, Scotiabank advancing by 0.8%, and CIBC also climbing by 0.8%. The industrial sector contributed positively as well, particularly through the Canadian National Railway, which surged 1.8%. In terms of materials, the rise was fueled by gains in precious metals and uranium, highlighted by Agnico Eagle's 1.7% increase, Wheaton Precious Metals' 1.8% rise, Cameco's 2% boost, and Franco-Nevada's 1.3% gain. However, these positive movements were partially limited by declines in the energy sector, where Canadian Natural Resources fell by 1.2%, Suncor decreased by 1.3%, Imperial Oil was down by 2.6%, and Cenovus retreated by 1.6% due to weaker crude prices. In technology, minor setbacks occurred, led by Constellation Software dipping 3.3% and Thomson Reuters declining by 1.9%.