23.12.202521:04:41UTC+00TSX Renews Record High on Mining Strength

The S&P/TSX Composite Index inched up by 0.2%, reaching a new peak at 32,059 on Tuesday, as the index, heavily influenced by resources, continued to benefit from commodity producers. Teck Resources and Ivanhoe Mines were at the forefront, posting gains of 3% and 2.8%, respectively, with First Quantum rising by 2.4% due to stronger copper and gold prices. The energy sector also played a role in this uplift, as Canadian Natural Resources saw a 1.1% increase. Conversely, other parts of the market witnessed more restrained performance after unexpectedly robust US GDP figures dampened hopes for accelerated and substantial monetary easing, which particularly affected technology stocks; Shopify notably dipped by 0.5%. The TSX is on its way to achieving its best annual performance since 2009, driven by significant surges in the mining and gold sectors, which have experienced more than a 100% increase this year.