Canada’s main stock index rose on Monday to a record high, with shares of technology companies leading broad-based gains as investors focused on upcoming corporate earnings rather than the latest U.S. tariff threats.
The S&P/TSX composite index ended up 175.60 points, or 0.7 per cent, at 27,198.85, eclipsing Thursday’s record closing high.
The European Union accused the U.S. of resisting efforts to strike a trade deal and warned of countermeasures if no agreement is reached to avoid the punishing tariffs President Donald Trump has threatened to impose starting August 1.
Investors have accepted that there will be some level of U.S. tariffs but expect the duties will not be as severe as proposed, said Sadiq Adatia, chief investment officer, BMO Asset Management.
“The market is just going to back to pure fundamentals of what’s going on globally and particularly what’s going on in the U.S., where the economy is still moving in the…
