CANADA STOCKS-TSX hits another record high as commodity-linked stocks climb

By Fergal Smith

Feb 19 (Reuters) - Canada's main stock index rose to another record high on Thursday, with energy and metal mining shares notching gains even as Wall Street ended lower.

The S&P/TSX Composite Index .GSPTSE ended up 205.25 points, or 0.6%, at 33,594.98, eclipsing Wednesday's record closing high. Since the start of 2026, the index has added 5.9%.

"It's had a pretty good performance so far this year. It's outperforming the three major U.S. bourses," said Robert Gill, a portfolio manager at Fairbank Investment Management.

"The TSX is unlike its southern counterparts because it's predominantly driven by commodities."

Wall Street ended lower as investors worried about high valuations and limited evidence that massive investments in AI are driving revenue and profit growth.

The Toronto market's energy sector .SPTTEN rose 2.2% as the price of oil CLc1 settled 1.9% higher at $66.43 a barrel. Traders worried about escalating tensions between the United States and Iran, which have stepped up military activity in the oil-producing Middle East.

Cenovus Energy CVE.TO said it has begun drilling new wells at its Christina Lake oil sands site in northern Alberta formerly owned by MEG Energy, a plan it says will boost the company's overall production both this year and in 2027. Shares of the oil sands producer were up 4%.

The materials group .GSPTTMT, which includes metal mining shares, added 1.3% as the price of gold XAU= moved higher, with shares of Torex Gold Resources Inc TXG.TO up 10.5% after the company reported increased quarterly revenue.

Industrials .GSPTTIN rose 0.9% and technology .SPTTTK was up 0.8%.

Three of TSX's 10 major sectors ended lower, including heavily weighted financials, which lost 0.4%.