TSX Gains Powered by Tech, Financial Stocks Amid Inflation Concerns

The TSX Composite Index rose by 0.57% to close at 36,009.40 on Monday, driven primarily by gains in technology and financial stocks.

Technology sector growth was particularly notable, with the index increasing by 2.96%, and Angelo Kourkafas of Edward Jones attributed this to the influence of mega cap tech companies like Shopify, saying 'Shopify, no doubt, is a big gainer on that front.'

BlackBerry shares also saw significant gains, rising by 7%.

The Bank of Canada's comments on inflation and growth contributed to investor sentiment, with Governor Tiff Macklem stating that US tariffs could reduce Canada's fourth-quarter growth below 1%, although he noted the Middle East conflict could push inflation upwards due to soaring oil prices.