Canada Business News: Celestica Shares Jump 11.9% as Canadian Stock Market Rises
— Strong tech earnings and gold prices lift the S&P/TSX as investors wait on the Bank of Canada
Toronto, October 28, 2026: Canada's stock market moved higher on Tuesday, supported by strong quarterly results from technology company Celestica and rising gold prices. The country's benchmark S&P/TSX Composite Index gained 0.6% to close at 36,171.49 points, reaching its highest level in six days.
It was a session where a single earnings beat and a safe-haven rally did most of the heavy lifting — even as energy stocks dragged.
Celestica Leads Technology Stocks
Celestica shares jumped 11.9% after the company reported quarterly results that exceeded analysts' expectations.
The company's performance helped lift Canada's technology sector, attracting investor attention to businesses involved in electronic equipment and data centre infrastructure.
Gold Prices Support Mining Companies
Mining stocks also contributed to the market's gains as higher gold prices boosted the materials sector.
The materials sector rose 3.3%, while technology stocks gained 0.7%. However, energy shares fell 2.6%, limiting some of the market's overall gains.
- Celestica: up 11.9% on quarterly results beating analyst expectations.
- S&P/TSX Composite: up 0.6% to 36,171.49 — highest close in six days.
- Materials sector: up 3.3% on stronger gold prices.
- Energy sector: down 2.6%, capping some of the index's gains.
Investors Await Bank of Canada's Decision
Investors are also watching the Bank of Canada's latest interest rate decision, expected on Wednesday, October 28.
The central bank's announcement could influence borrowing costs, business investment and the Canadian dollar.
For businesses and investors, the combination of corporate earnings, commodity prices and interest rate expectations remains a key factor shaping Canada's financial markets.