TSX Reaches Record Closing High Amid Optimism Over Middle East Peace Developments

TSX Reaches Record Closing High

Canada's main stock index, the Toronto Stock Exchange's S&P/TSX composite index, rose to a record closing high on Monday, May 25, with the prospect of a deal to end the war in the Middle East boosting investor sentiment. The technology and metal mining shares were among the biggest gainers.

The TSX composite index ended up 359.53 points, or 1%, at 34,830.89, eclipsing the record closing high it posted on March 2. The materials sector, which includes metal mining shares, rose 4.4% as gold prices climbed on easing fears of inflation and higher-for-longer interest rates. Key performers in the sector were Hudbay Minerals, which rose 8.9%, and First Quantum Minerals, which were up 8.4%.

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The technology sector added 2.1%, and financials ended 0.9% higher. Canada's major banks, including Royal Bank of Canada and Toronto-Dominion Bank, the two highest-weighted stocks on the TSX, are due to report quarterly results on Wednesday and Thursday, respectively. In contrast, the energy sector was the only major sector to end lower, losing 3.4%, as the price of oil declined 6.5%. Much of Canada's oil is produced in Alberta, where Prime Minister Mark Carney has warned that the province's planned vote on potentially breaking away from the rest of Canada could become "a dangerous bluff."

The TSX has advanced 9.8% since the start of the year after advancing 28.2% in 2025.