Oct 6 (Reuters) - Canada's main stock index closed at a record high on Monday, fueled by positive sentiment from Wall Street and gains in mining and tech stocks.
Toronto's S&P/TSX composite index (.GSPTSE), climbed 60.20 points, or 0.20%, to 30,531.88, closing its seventh consecutive session of gains and building on its 2.4% gain from the previous week.
The bullish momentum mirrored Wall Street, where markets rallied after AMD (AMD.O), announced a chip-supply partnership with OpenAI, becoming the latest in a series of artificial intelligence deals that have driven markets higher recently.
"The market just keeps climbing higher and it feels like commodities are definitely leading. Gold is on $4,000 watch... It's putting more emphasis on the material sector," said Greg Taylor, chief investment officer at PenderFund Capital Management.
Materials stocks (.GSPTTMT), added 1.3%, bolstered by gold prices reaching historic highs. The precious metal benefited from safe-haven demand and growing expectations for an interest rate cut at the U.S. Federal Reserve's October meeting.
TSX's information and technology sector (.SPTTTK), gained 0.3%, led by cryptocurrency miner Bitfarms (BITF.TO), opens new tab, which soared 14.8% as bitcoin hovered near an all-time high.
The energy sector (.SPTTEN), contributed to the positive momentum, rising 1.6%, after oil prices increased about 1% on the day as OPEC+'s planned production increase for November was more modest than expected.
On Tuesday, Canadian Prime Minister Mark Carney will meet U.S. President Donald Trump in Washington to discuss economic and security issues as the two nations review a North American trade pact.
"Hopefully there is some good news to come. It does feel like the switch is flipped and Trump is trying to become more market-friendly," Taylor said.
While a U.S. government shutdown entering its sixth day has paused economic data releases south of the border, Canadian investors are turning their attention to domestic employment figures expected later this week.
Reporting by Ragini Mathur in Bengaluru; Editing by Vijay Kishore and Nia Williams
