FX.co ★ TSX Renews Record High

Canada’s S&P/TSX Composite Index advanced 0.6% to a new record high of 33,970 on Tuesday, as strength in technology and industrials offset weakness in financials. Thomson Reuters jumped 11.4% after announcing a partnership with Anthropic to develop AI tools, helping lift the technology and industrial sectors by 0.8% and 0.9%, respectively.

In contrast, financials came under pressure despite robust earnings. Scotiabank reported a rise in first-quarter net income to $2.30 billion, but its shares slipped 0.7% as investors focused on credit risk concerns. Energy stocks were mixed even after Whitecap Resources beat expectations, while gold miners, including Agnico Eagle, gained late in the session, with Agnico up 1.5%.

Overall sentiment remained cautious following the implementation of a 10% US tariff that took effect today. Investors are now turning their attention to upcoming results from BMO and RBC for further insight into the resilience of Canada’s financial sector.