TSX hits record high on boost from technology, mining shares

Canada's main stock index rose on Monday, lifted by technology and mining shares, while investors assessed the latest U.S. tariff threats.

The benchmark S&P/TSX composite index TSX rose 0.4% to 27,124.57 points to hit a fresh intraday record high.

White House economic adviser Kevin Hassett said on Monday that trade talks are still underway with the EU, Canada and Mexico.

"So far the tariffs have not had a big negative impact on the economy. So, the fear hasn't crept in the way it did some months ago," said Colin Cieszynski, portfolio manager and chief market strategist at Sia Wealth Management.

U.S. President Donald Trump had on Saturday announced a 30% tariff on most imports from the European Union and Mexico starting August 1, despite ongoing trade negotiations.

"Commodity prices have been helping the Canadian resource sector and the Canadian market," Cieszynski said.

On TSX, technology TTTTK shares rose about 1%, led by a 5.1% rise in bitcoin miner Bitfarms BITF as the cryptocurrency BTCUSD hit a record high on Monday.

Industrial stocks (.GSPTTIN) rose 0.6%, led by Thomson Reuters TRI shares that hit a record high and were last up 7.4%, at the top of the index.

Mining shares TTMT rose 0.8%, tracking gold and silver prices.

Miners Aya Gold & Silver AYA was up 2.8%, SSR Mining SSRM added 2.5%, and Orla Mining OLA advanced 3.1%.

Conversely, energy TTEN shares fell about 1%.

On Monday, domestic trade data showed that wholesale trade grew by 0.1% in May from April on higher sales in the personal and household goods subsector.

Almonty Industries AII is set for Nasdaq debut on Monday following a $90 million U.S. IPO. Shares of the tungsten concentrate producer, however, fell 13.2%.

Investors will monitor Tuesday's domestic and U.S. inflation data to gauge the impact of the U.S.-led trade war.