Highlights 

  • TSX climbs 1.5% to close at 30,604.35, its highest level in 12 days 
  • Technology sector jumps as rate-cut expectations lift sentiment 
  • Materials group rises on a gold price rally 
  • Barrick Gold surges to reach a new record closing high 
  • Celestica gains, leading tech sector advances 

Canada’s benchmark S&P/TSXComposite Index climbed 1.5% on Monday, ending the session at 30,604.35—its highest close since November 12. The advance was driven largely by gains in technology and gold mining stocks, supported by rising expectations that the U.S. Federal Reserve will cut interest rates in December. 

U.S. markets also moved higher, extending Friday’s momentum, as market responded positively to growing confidence in a potential rate reduction. Despite concerns regarding stretched tech valuations, sentiment improved ahead of the long U.S. Thanksgiving weekend and the start of the holiday shopping season, which includes Black Friday and Cyber Monday. 

Gold and Materials Sector Move Upward 

The materials sector rose, supported by an upswing in gold prices. The rally extended to major miners, with Barrick Gold Corp (TSX:ABX) also advanced after announcing it had reached an agreement with Mali’s government to resolve all disputes related to the Loulo-Gounkoto gold mining complex. The development brought clarity after two years of disagreements, pushing Barrick’s shares above the previous record closing high set in December 2010. 

The overall uplift incommodityprices added momentum to the sector, reflecting renewed investor interest in precious metals-linkedequities.  

Technology Leads Gains 

The technology index jumped, outperforming all major TSX groups. Celestica Inc (TSX:CLS) led the surge, extending the company’s year-long upward trend as demand for electronics equipment continues to support its performance outlook. 

Conclusion 

The TSX’s 12-day high reflects renewed market enthusiasm driven by optimism surrounding a potential U.S. interest rate cut, a rally in gold prices, and strong performances from major technology and mining companies. While some sectors such as consumer staples lagged, the broader market benefited from favourable seasonal trends, improving sentiment, and clarity around key global commodity developments. As the holiday shopping season begins, market attention will remain focused on rate expectations, corporate updates, and broader economic signals from both Canada and the United States. 

Barrick Gold Corps’ shares closed at CAD 55.93, marking a 8.54% increase from the prior session. 

Celestica Incs’ shares closed at CAD 454.05, marking a 14.95% increase from the prior session.