(Updates with morning prices)
By Twesha Dikshit and Sukriti Gupta
July 14 (Reuters) -
Canada's main stock index rose on Monday, lifted by
technology and mining shares, while investors assessed the
latest U.S. tariff threats.
The benchmark S&P/TSX composite index rose
0.4% to 27,124.57 points to hit a fresh intraday record high.
White House economic adviser Kevin Hassett
said
on Monday that trade talks are still underway with the EU,
Canada and Mexico.
"So far the tariffs have not had a big negative impact
on the economy. So, the fear hasn't crept in the way it did some
months ago," said Colin Cieszynski, portfolio manager and chief
market strategist at Sia Wealth Management.
U.S. President Donald Trump had on Saturday
announced
a 30% tariff on most imports from the European Union and
Mexico starting August 1, despite ongoing trade negotiations.
"Commodity prices have been helping the Canadian
resource sector and the Canadian market," Cieszynski said.
On TSX, technology shares rose about 1%, led
by a 5.1% rise in bitcoin miner Bitfarms ( BITF ) as the
cryptocurrency hit a
record high
on Monday.
Industrial stocks rose 0.6%, led by Thomson
Reuters ( TMSOF ) shares that hit a record high and were last up
7.4%, at the top of the index.
Mining shares rose 0.8%, tracking gold and
silver prices.
Miners Aya Gold & Silver ( AYASF ) was up 2.8%, SSR
Mining ( SSRGF ) added 2.5%, and Orla Mining ( ORLA ) advanced
3.1%.
Conversely, energy shares fell about 1%.
On Monday, domestic trade data
showed
that wholesale trade grew by 0.1% in May from April on
higher sales in the personal and household goods subsector.
Almonty Industries ( ALM ) is set for
Nasdaq debut
on Monday following a $90 million U.S. IPO. Shares of the
tungsten concentrate producer, however, fell 13.2%.
Investors will monitor Tuesday's domestic and U.S.
inflation data to gauge the impact of the U.S.-led trade war.