TSX Rises as Energy and Tech Stocks Lead Gains

TSX Rises as Energy and Tech Stocks Lead Gains

The S&P/TSX Composite Index gained 0.2% to close at 34,479 on Monday, recovering modestly after posting its biggest decline in nearly four months on Friday, with energy and technology shares leading gains.

Energy stocks advanced as oil prices moved higher amid persistent geopolitical risks near the Strait of Hormuz.

Iran and Israel said they had halted attacks on each other following an appeal from US President Donald Trump, although Iran warned it would resume strikes if Israel continued targeting Hezbollah in Lebanon.

Canadian Natural rose 1.4%, Suncor gained 1.5%, and Cenovus added 1.7%.

Technology shares also outperformed, tracking gains on Wall Street after reports that Alphabet had placed a major chip order with Intel.

Shopify advanced 1.2%, while Celestica climbed 3.8%.

Investors also looked ahead to the Bank of Canada's policy decision on Wednesday, with rates expected to remain unchanged at 2.25%.

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