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CANADA STOCKS-TSX extends record-setting run, led by tech and metal mining shares
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CANADA STOCKS-TSX extends record-setting run, led by tech and metal mining shares
Sep 3, 2025 2:18 PM

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TSX ends up 0.5% at 28,751.36

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Surpasses Tuesday's record closing high

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Technology advances 1.4%

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Alimentation Couche-Tard ( ANCTF ) rises after earnings beat

(Updates at market close)

By Fergal Smith

Sept 3 (Reuters) - Canada's main stock index rose to

another record high on Wednesday, as technology and metal mining

shares notched gains ahead of employment data this week that

could offer clues on the prospect of a Bank of Canada interest

rate cut.

The S&P/TSX composite index ended up 135.74

points, or 0.5%, at 28,751.36, surpassing Tuesday's record

closing high.

Both Canada and the U.S. are due to release employment

reports for August on Friday. Economists forecast that Canada's

economy added 10,000 jobs and the unemployment rate edged up to

7% from 6.9%.

"It is probably the biggest jobs number we've seen in

recent times coming out of both sides of the border," said Allan

Small, senior investment advisor of the Allan Small Financial

Group with iA Private Wealth. "I think a bad number in Canada

solidifies a cut here."

Investors see a roughly 60% chance the BoC lowers interest

rates on September 17 for the first time since March. The

benchmark rate is at 2.75%.

"Gold reaching all-time highs, that's what's carrying the TSX

right now," Small said.

The materials group, which includes metal mining

shares, added 0.8% as the price of gold climbed to

another all-time peak.

Teck Resources ( TECK ) announced that it has undertaken a

company-wide operations review and would defer approving major

growth projects until its Quebrada Blanca copper mine in Chile

achieves steady operations and target output. Shares of Teck

ended 0.7% higher.

Technology was up 1.4% and consumer staples

added 2%.

Alimentation Couche-Tard ( ANCTF ) climbed 6.3% after its

quarterly adjusted earnings beat estimates.

Energy was a drag, falling 1.7%. The price of oil

settled 2.5% lower at $63.97 a barrel ahead of a weekend

meeting of OPEC+ producers that is expected to consider another

increase in production targets in October.

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