Equities in Toronto kept on rolling, borrowing some of the good vibes emanating from south of the border, and with one eye on Wednesday’s announcement on interest rates by the Bank of Canada.
The TSX Composite Index leaped 147.20 to close Monday at 29,431.02.
The Canadian dollar gained 0.37 cents to 72.62 cents U.S.
Economists anticipate the BoC will cut its overnight rate by a quarter point on Wednesday, as the labour market deteriorates and economic activity weakens. They also expect one more cut next quarter.
The Canadian central bank has maintained its benchmark rate at 2.75% since it was lowered in March.
In corporate news, Brookfield Asset Management is in talks to buy Yes! Communities, a U.S. firm, from the Singaporean sovereign wealth fund GIC for more than $10 billion, the Financial Times said on Sunday.
Brookfield grabbed $1.31, or 1.7%, to $79.66.
Among individual stocks, B2Gold fell 16 cents, or 2.6%, to $6.06, after the miner provided an update on Goose Mine commissioning and confirmed its consolidated 2025 production guidance range.
Parex Resources posted the biggest percentage gain on the TSX, up $1.19 or 7%, to $18.19, after BMO upgraded the stock to "outperform" from "market perform".
Elsewhere in energy, Canadian Natural Resources climbed 94 cents, or 2.2%, to $44.15.
In consumer discretionary stocks, Aritizia gathered $2.96, or 3.5%, to $87.21, while Gildan Activewear gained $1.04, or 1.4%, to $75.66.
Techs scored well, too, as Bitfarms hiked 31 cents, or 10%, to $3.41, while Sangoma took on 47 cents, or 6%, to $8.28.
Consumer staples weakened, however, with Loblaw down $1.24, or 2.2%, to $54.20, while rival Metro fell $2.14, or 2.2%, to $94.57.
In telecoms, BCE dwindled 81 cents, or 2.4%, to $32.65, while Cogeco sank 43 cents to $65.32.
In health-care Bausch Health Companies collapsed 17 cents, or 1.7%, to $9.89.
Monday was a busy day on the macroeconomic front, with manufacturing sales hiking 2.5% in July, driven primarily by higher sales in the transportation equipment, petroleum and coal product, and primary metal subsectors.
Statistics Canada also reported wholesale sales rose 1.2% to $86.0 billion in July.
The nation’s number crunchers went on to say were 179,814 new motor vehicles sold in Canada in July 2025, increasing 6.8% from July 2024. Sales in dollar terms were up 4.7% over the same period. Gains were observed in both the passenger cars (+11.1%) and trucks (+6.2%) subsegments.
Finally, the Canadian Real Estate Association reported the number of home sales recorded over Canadian MLS® Systems edged up 1.1% on a month-over-month basis in August 2025. It was the best month of August for sales since 2021, and the fifth straight monthly increase in activity, making for a cumulative 12.5% since March.
ON BAYSTREET
The TSX Venture Exchange grabbed 13.31 points, or 1.5%, to 892.98.
Seven of the 12 subgroups were higher, with consumer discretionary stocks up 0.7%, followed by energy and information technology stocks, each up 0.5%.
The five laggards were weighed most by telecoms, staggering 0.8%, while health-care dipped 0.5%, and consumer staples fell 0.5%.
ON WALLSTREET
Stocks rose Monday after President Donald Trump said that U.S.-China trade negotiations were going well. Investors also braced for a key Federal Reserve meeting this week.
The Dow Jones Industrials restored 49.23 points, to close at 45,883.45.
The S&P 500 progressed 30.99 points to 6,615.28, a new record.
The tech-heavy NASDAQ index popped 207.65 points to 22,339.74. Top U.S. and Chinese officials for a second day discussed tariff rates and the imminent deadline for a divestment of Chinese-owned social media TikTok.
In a Truth Social post, Trump said the meeting between officials had been positive and that a deal “was also reached on a ‘certain’ company that young people in our Country very much wanted to save,” potentially referring to TikTok. The U.S. will go ahead on its TikTok ban if China does not let go of its demands for reduced tariffs and tech restrictions, Reuters reported on Monday, citing a senior U.S. official with knowledge of negotiations.
As talks between the countries continued, China’s market regulator said Nvidia violated the country’s anti-monopoly law and that it would continue its probe into the chipmaker.
Nvidia shares dropped 1.8%.
Tesla shares jumped 7% after CEO Elon Musk disclosed an insider purchase of the stock worth about $1 billion, his largest buy in the open market ever and his first significant purchase since 2020.
Traders took the buy as a vote of confidence by Musk in the company, which is attempting to turn its focus towards robotics as electric vehicle competition has intensified.
Monday’s gains come after the latest economic data showing a weakening labor market and tame inflation spurred hopes the Fed will cut interest rates when it concludes its meeting on Wednesday.
The market was last pricing in a 96% certainty that the central bank will lower interest rates by a quarter percentage point, with a meager 3.6% likelihood of a steeper half percentage point cut
Prices for 10-year Treasury gained slightly, lowering yields to 4.04% from Friday’s 4.06%. Treasury prices and yields move in opposite directions.
Oil prices pushed higher 63 cents to $63.32 U.S. a barrel.
Gold prices jumped $34.00 to $3,720.40 U.S. an ounce.
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