TSX Struggles for Direction After Major Bank Earnings

2026-02-26 14:46 By Felipe Alarcon 1 min. read

Canada's S&P/TSX Composite Index hovered around record high at 34,130 amrk on Thursday as strong financial sector earnings offset widespread weakness in energy and mining shares.

The market reacted to fourth quarter results where TD Bank rose 0.9% and CIBC jumped 2.9% after both institutions exceeded profit expectations.

However, mega-cap RBC lost nearly 2%.

as concerns over rising credit costs and a potential peak in net interest margins overshadowed a record quarterly profit.

Meanwhile, the energy sector lagged after Suncor fell 0.9% and Canadian Natural Resources dropped 1.1% due to sliding crude prices.

Mining stocks also faced headwinds as Barrick Gold slipped 1% and Teck Resources retreated 2%.

Meanwhile tech shares provided a tailwind as Shopify gained 1.6% following Nvidia's positive revenue outlook.

In the industrial space Gildan Activewear plummeted over 5% and CCL Industries fell 1.2% following disappointing revenue data.



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