2026.07.2220:30:08UTC+00TSX Closes Higher on Commodity Stocks Rally

The S&P/TSX Composite Index rose 0.3% to close at 35,485 after touching a record intraday high, lifted by gains in mining and energy shares on the back of firmer commodity prices.

Miners advanced as gold inched higher, supported by a softer US dollar and renewed safe-haven demand amid escalating tensions between the US and Iran. Agnico Eagle climbed 3.5%, Barrick added 2.8%, WPM gained 1.1%, and Franco-Nevada rose 3.1%.

Energy stocks also moved higher, tracking a jump in oil prices driven by growing concerns over potential disruptions to Middle Eastern supply routes tied to rising US-Iran hostilities. Canadian Natural rose 1.8%, Imperial Oil gained 0.8%, Suncor added 1.5%, and Cenovus advanced 0.6% ahead of its earnings release on Thursday.

In contrast, technology shares weakened ahead of earnings reports from US heavyweights Alphabet and Tesla. Shopify fell 3.9%, Constellation Software declined 2.1%, and Celestica slipped 1.4%.