FX.co ★ TSX Edges Lower From Record High

Canada’s S&P/TSX Composite Index surrendered its latest record to finish 0.1% lower at 33,900 on Monday, as a gold-fueled rally in materials was not enough to fully offset weakness in the technology and financial sectors. The benchmark outperformed Wall Street’s steeper declines but stayed under pressure following President Trump’s surprise move to lift global tariffs to 15%.

Gold producers were the main source of support as investors rotated into safe havens. Agnico Eagle jumped 5.8%, Barrick Gold gained 3%, and Wheaton Precious Metals advanced 3.8% as bullion prices set new records. In contrast, the technology sector tracked the US selloff, with Shopify tumbling 7.1% and Constellation Software falling 3.2% amid mounting concerns over AI-driven disruption. Financials were another drag on the index, led by a 2.4% decline in BMO and an almost 1% loss in RBC. Emera finished slightly lower despite reporting stronger-than-expected profits earlier in the session.