27.07.202620:24:32UTC+00TSX Closes at Record High

The S&P/TSX Composite Index rose 0.6% on Monday to a record close of 35,568, as tumbling oil prices followed a pause in hostilities between the United States and Iran. Crude retreated after both countries halted strikes over the weekend amid renewed diplomatic efforts, with reports indicating President Trump is open to restarting peace talks. The pullback in oil eased energy-driven inflation concerns, pushing Canadian bond yields lower and providing a tailwind for financials. CIBC gained 0.8%, while Brookfield advanced 1.1%.

Gold prices strengthened as lower U.S. Treasury yields increased demand for the metal, lifting miners. Agnico Eagle and WPM each rose 0.6%, and Barrick added 0.8%. Cameco climbed 1.8% after UBS upgraded the stock to Buy.

Technology shares rallied sharply. Shopify surged 11.6%, Constellation Software rose 6.4%, and Celestica gained 4.5%. Shopify jumped after RBC said the company’s software has “great defensibility” against AI-driven disruption. Celestica is scheduled to report earnings after the closing bell.