Canadian equity markets finished the trading day in positive territory on Monday, with the S&P/TSX Composite advancing 0.56% to reach a fresh all-time high. Strength in Information Technology, Consumer Discretionary and Consumer Staples sectors underpinned the move higher.
At the close in Toronto, Shopify Inc (TSX:SHOP) was the leading winner on the S&P/TSX Composite, rallying 11.64% — a gain of 18.68 points — to finish at 179.14. Thomson Reuters Corp (TSX:TRI) followed with an 8.57% rise, up 10.89 points to 137.93, while WSP Global Inc (TSX:WSP) added 6.97%, or 11.23 points, to end the session at 172.37.
On the downside, Badger Infrastructure Solutions Ltd (TSX:BDGI) recorded the largest decline among major movers, slipping 8.44% or 8.30 points to close at 90.07. Finning International Inc. (TSX:FTT) fell 7.51%, or 8.10 points, to finish at 99.80, and Toromont Industries Ltd. (TSX:TIH) declined 6.71%, down 15.14 points to 210.63.
Market breadth favored advancers. On the Toronto Stock Exchange, 574 issues advanced versus 399 that declined, while 73 names finished unchanged.
Volatility metrics eased on the day. The S&P/TSX 60 VIX, a gauge of implied volatility for options on the S&P/TSX Composite, fell 1.14% to 14.71.
Commodities showed divergent moves during the session. Gold futures for August delivery rose 0.24%, gaining 9.75 to trade at 4,080.55 a troy ounce. In energy markets, crude oil for September delivery dropped 8.32% or 7.43 to $81.88 a barrel, while the October Brent contract fell 6.96% or 6.38 to $85.30 a barrel.
On the currency front, CAD/USD was unchanged at 0.71, reflecting a 0.21% move reported for the session, while CAD/EUR was unchanged at 0.62, reflecting a 0.23% move. The US Dollar Index Futures was slightly higher, up 0.06% at 101.36.
Market snapshot:
- S&P/TSX Composite: +0.56%, new record close
- Top gainers: SHOP +11.64%, TRI +8.57%, WSP +6.97%
- Top decliners: BDGI -8.44%, FTT -7.51%, TIH -6.71%
- S&P/TSX 60 VIX: -1.14% to 14.71
- Gold (Aug): +0.24% to 4,080.55 per troy ounce
- Crude oil (Sep): -8.32% to 81.88 per barrel; Brent (Oct): -6.96% to 85.30 per barrel
- CAD/USD: 0.71 (0.21%); CAD/EUR: 0.62 (0.23%)
- US Dollar Index Futures: 101.36 (+0.06%)
The day’s trading illustrated a divergence between equity leadership in technology and consumer-facing names and significant moves in commodity markets. The session produced a clear set of winners and losers among large-cap Canadian stocks, while measures of volatility eased slightly as oil and other commodity prices shifted.