12:15 PM EDT, 07/23/2025 (MT Newswires) -- The Toronto Stock Exchange is up 78 points at midday with energy and financials, up 1% and 0.8%, respectively, leading gains.

Healthcare is the third biggest gainer, up 0.7%, while the sole decliner is industrials, down 0.4%.

BMO Economics noted the pace of trade deals has picked up, with the U.S. securing agreements with the Philippines and Japan over the last 24 hours and releasing more details on a deal with Indonesia. In relation to Japan the agreement outlines a 15% tariff on Japanese shipments to the U.S., and that includes autos.

Rosenberg Research said an EU deal is also said to be in view. "Reinforcing the positive equity market tone is not just the anticipation that the EU is coming with its own deal for the President (Mr. Trump says this is now days away), but also the remarks made by Treasury Secretary Scott Bessent that trade talks with China are in a "very good place" and that the current truce would likely be extended beyond August 12th," the research said.

The US-Japan deal suggests Trump is still willing to make deals, according to one Macquarie strategist.

Thierry Wizman, Global FX & Rates Strategist at Macquarie, said: "Stocks are enjoying a day in the sun today, spurred on by the news that the US and Japan reached an agreement last night on a 'trade deal' that covers a broad range of topics in their bilateral commercial relationship."