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.



News Stream
TSX Climbs on US-Iran Peace Prospects
The S&P/TSX Composite Index rose 0.3% to close at 35,390 on Tuesday, supported by optimism over a potential US-Iran peace deal. US President Donald Trump said at the G7 summit that negotiations with Iran had entered a second stage. Oil prices fell as markets assessed the prospect of renewed supplies, easing concerns about energy-driven inflation and reducing fears of a hawkish shift by central banks. Lower bond yields supported financial stocks and the broader market, with RBC rising 1.1%, while TD Bank and BMO both added 0.7%. Higher gold prices lifted mining shares, with Agnico Eagle gaining 2.6%, WPM advancing 3.6%, and Barrick rising 2.3%. In contrast, lower oil prices weighed on energy stocks, with Canadian Natural down 1.7%, Suncor losing 2.4%, and Cenovus falling 3.2%. Meanwhile, home sales rose 5.5% in May, while home prices edged lower. Investors are now awaiting the US Fed's policy decision on Wednesday, with markets widely expecting interest rates to remain unchanged.
2026-06-16
TSX Rises on US-Iran Deal Optimism
The S&P/TSX Composite Index gained nearly 0.5% to trade above 35,000 on Tuesday amid optimism over a pending US-Iran peace deal. US President Donald Trump said at the G7 summit that negotiations with Iran had entered a second stage. Oil prices slid as markets weighed the prospect of renewed supplies, easing concerns about energy-driven inflation and reducing fears of a hawkish shift by central banks. Lower bond yields supported financial stocks and the broader market, with RBC up more than 0.6%, TD Bank adding 0.5%, and BMO advancing nearly 1%. Higher gold prices boosted mining shares, with Agnico Eagle and WPM rising more than 1.5% and Barrick gaining over 1%. In contrast, lower oil prices weighed on energy stocks, with Canadian Natural shedding 1.5% and Suncor losing nearly 2%. Meanwhile, home sales rose 5.5% in May while home prices edged lower. Investors are awaiting the US Fed's policy decision on Wednesday, with markets widely expecting interest rates to remain unchanged.
2026-06-16
TSX Futures Rise on US-Iran Deal Optimism
Futures tracking the S&P/TSX Composite Index edged higher on Tuesday amid optimism over a pending US-Iran peace deal. US President Donald Trump said at the G7 summit that negotiations with Iran were moving into a second stage. Oil prices slid as markets weighed the prospect of renewed supplies, easing concerns about energy-driven inflation and reducing fears of a hawkish shift by central banks. Lower bond yields supported financial stocks and the broader market, while higher gold prices provided support for mining shares. Meanwhile, Canadian home sales rose 5.5% in May, while home prices edged lower. Investors are now focused on the Federal Reserve's policy decision on Wednesday, with markets widely expecting interest rates to remain unchanged.
2026-06-16