• TSX ends up 0.2% at 28,615.62
• Eclipses Friday's record closing high
• Materials Group adds 1.8% as gold hits new peak
• Energy gains 0.9%, with oil settling 2.5% higher

Sept 2 (Reuters) - Canada's main stock index edged up to another record high on Tuesday, recouping its earlier declines, as a jump in the price of oil and gold offset increased investor caution at the start of the month.

The S&P/TSX composite index (.GSPTSE) , opens new tab ended up 51.17 points, or 0.2%, at 28,615.62, eclipsing Friday's record closing high. The market was closed on Monday.

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Wall Street started off September on a sharply lower note as investors weighed the legality of U.S. President Donald Trump's tariffs.

"Investors were definitely reeling back in their risk exposure and getting more cautious," said Colin Cieszynski, chief market strategist at SIA Wealth Management.

"This was one of those days where the resource sector exposure came through for Canada."

The materials group (.GSPTTMT) , opens new tab, which includes metal mining shares, added 1.8% as copper prices climbed and the price of gold extended its record-breaking rally.

The price of oil also rose, settling 2.5% higher at $65.59 a barrel, which boosted the energy sector (.SPTTEN) , opens new tab. Energy was up 0.9% and heavily weighted financials (.SPTTFS) , opens new tab ended 0.1% higher.

Real estate (.GSPTTRE) , opens new tab was a drag, falling 1.5%, as long-term borrowing costs climbed globally. Canada's 10-year yield was up 7.3 basis points at 3.448%.

Telus Corp (T.TO) , opens new tab said it would buy the remaining shares in its digital services unit in a $539 million cash-and-stock deal, looking to expand its artificial intelligence capabilities. Shares of the telecom company were down 0.4%.

Domestic data was downbeat. Canada's manufacturing sector contracted in August for the seventh straight month as U.S. tariffs weighed on export demand.

https://www.reuters.com/markets/europe/gold-mining-shares-lift-toronto-stock-market-another-record-high-2025-09-02/