TSX Pushes New Highs on Mining Strength

2026-01-29 14:48 By Felipe Alarcon 1 min. read

The S&P TSX Composite climbed about 0.6% to a fresh record above the 33,350 level on Thursday, led by commodity producers amid higher copper, gold, and oil prices.

Base metal miners drove the advance after First Quantum Minerals, Teck Resources, Lundin Mining, and Ivanhoe Mines surged between 5% and 6.6%, tracking a roughly 10% jump in copper prices.

Gold miners also added support, with Barrick gaining nearly 2% as bullion extended its rally to a record near $5,500 per ounce following reports that President Trump was considering a new strike on Iran.

Energy stocks further boosted the index as rising geopolitical risks lifted oil prices, pushing Canadian Natural Resources, Suncor, Imperial Oil, and Cenovus up between 2.3% and 3.8% amid concerns over potential supply disruptions from Iran.

Elsewhere, sentiment was underpinned by resilient US tech earnings and the Federal Reserve’s decision to hold rates steady, with Shopify rising over 2%.



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