TSX Outperforms Peers

2026-03-02 14:45 By Felipe Alarcon 1 min. read

Canada’s S&P/TSX Composite Index dropped around 0.3% to 34,300 on Monday, joining a global retreat as war in the Middle East sparked a shift away from riskier assets.

While the broader market fell, energy and mining stocks provided a cushion.

Suncor and Canadian Natural Resources jumped over 2.5% as oil prices surged due to the closure of the Strait of Hormuz, while Agnico Eagle and Kinross gained on record gold prices.

A bright spot in the industrial sector was Cameco, which rose around 1% following a 2.6 billion dollar uranium deal with India announced during Prime Minister Mark Carney’s visit to New Delhi.

However, these gains were offset by a 1.5% slide in major banks like RBC and TD, along with a 2.9% drop for Shopify, as investors worried that rising energy costs could lead to higher inflation and more restrictive interest rate policies.

Economically, the latest manufacturing report showed the best conditions in 13 months



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