The S&P/TSX Composite Index experienced a 0.5% increase, surpassing the 30,000 threshold on Tuesday. This rise followed a notable decline on Friday, driven by gains in the mining, financial, and technology sectors after a long weekend, and a reduction in the US-China trade tensions that had previously triggered the selloff. Leading the upward trend in mining stocks, Agnico Eagle, Wheaton Precious Metals, Barrick Mining, and Franco-Nevada saw their shares rise between 2% and 5%, bolstered by gold hitting record highs due to increased demand for safe-haven assets. The financial and technology sectors also contributed positively to the index's performance, with Brookfield climbing over 3% and Constellation Software up by more than 2%. Nonetheless, the initial optimism regarding US-China relations was dampened. Both nations have begun imposing reciprocal port fees on each other's shipments, raising fears of further conflict escalation. Additionally, China announced sanctions against five US subsidiaries of South Korea’s Hanwha Ocean, adding another layer of concern to the bilateral ties.
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