• TSX ends up 0.2% at 27,416.41
• Eclipses Thursday's record closing high
• Energy adds 1.1%, financials end up 0.6%
• Canadian National Railway falls 4.1% on revenue miss

July 23 (Reuters) - Canada's main stock index posted a record high on Wednesday, helped by gains for energy and financial shares, as investors cheered signs that countries are reaching trade deals with the United States ahead of an August 1 deadline.

The Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE) , opens new tab ended up 51.98 points, or 0.2%, at 27,416.41, eclipsing Thursday's record closing high.

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"It looks like deals are getting done," said Allan Small, senior investment advisor of the Allan Small Financial Group with iA Private Wealth. "This fear of August 1 may not materialize."

Wall Street also rose as the European Union and the U.S. appeared headed toward a trade deal similar to an agreement U.S. President Donald Trump struck with Japan.

The energy sector (.SPTTEN) , opens new tab added 1.1% and heavily weighted financials (.SPTTFS) , opens new tab, which include bank stocks, were up 0.6%.

"Banks are the bloodline of any economy," Small said, adding that they would benefit if trade certainty were to improve the economic outlook.

Rogers Communications Inc (RCIb.TO) , opens new tab shares advanced 1.2% after the company raised its annual service revenue forecast, banking on a boost from its stake acquisition in Maple Leaf Sports.

Not all sectors notched gains. The materials sector (.GSPTTMT) , opens new tab, which includes metal mining shares, fell 0.5% as the price of gold, a traditional safe haven, declined.

Industrials also ended lower, losing 0.6%. Shares of Canadian National Railway Co (CNR.TO) , opens new tab dropped 4.1% after the company's second-quarter revenue missed expectations.

https://www.reuters.com/markets/europe/tsx-climbs-record-high-global-trade-deal-optimism-2025-07-23/