TSX Drops to 2-Week Low

2026-03-05 14:47 By Felipe Alarcon 1 min. read

Canada's S&P/TSX Composite Index slumped around 1% to below the 33,600 mark on Thursday, marking a two-week low as escalating geopolitical risks in the Middle East and evidence of persistent inflation dampened the outlook for rate cuts.

Higher than expected wage growth and manufacturing costs drove government bond yields to track their American counterparts higher, adding pressure to the financial and mining sectors.

Royal Bank of Canada and TD Bank fell while major gold miners including Agnico Eagle and Barrick Gold plunged more than 3.5% as traders repositioned away from previous safe haven gains.

However energy producers remained a point of resilience with Canadian Natural Resources and Cenovus Energy gaining over 1% as global supply concerns kept crude prices near their recent peaks.

Technology shares also showed strength as Shopify and Constellation Software advanced more than 2%.

In other developments, Canada signed new critical minerals agreements with Australia.



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TSX Drops to 2-Week Low
Canada's S&P/TSX Composite Index slumped around 1% to below the 33,600 mark on Thursday, marking a two-week low as escalating geopolitical risks in the Middle East and evidence of persistent inflation dampened the outlook for rate cuts. Higher than expected wage growth and manufacturing costs drove government bond yields to track their American counterparts higher, adding pressure to the financial and mining sectors. Royal Bank of Canada and TD Bank fell while major gold miners including Agnico Eagle and Barrick Gold plunged more than 3.5% as traders repositioned away from previous safe haven gains. However energy producers remained a point of resilience with Canadian Natural Resources and Cenovus Energy gaining over 1% as global supply concerns kept crude prices near their recent peaks. Technology shares also showed strength as Shopify and Constellation Software advanced more than 2%. In other developments, Canada signed new critical minerals agreements with Australia.
2026-03-05
TSX Futures Dip as Middle East Tensions Fuel Inflation Fears
Futures tracking the S&P/TSX Composite Index were lower on Thursday as investors remained cautious amid escalating Middle East tensions, now in their sixth day. Oil prices surged on fears of supply disruption, compounded by reports that the Chinese government instructed its largest refiners to suspend diesel and gasoline exports. The jump in energy prices stoked inflation concerns, pushing Canadian bond yields higher and pressuring major due to higher credit costs. In addition, Canadian Natural Resources reported fourth-quarter profits above expectations, citing a 12.8% year-over-year rise in output to a record 1.66 million barrels of oil equivalent per day. Gold prices also rose as investors turned to safe-haven assets, lifting mining stocks. In other developments, Canada signed new critical minerals agreements with Australia.
2026-03-05
TSX Reclaims Territory on Wednesday
Canada’s S&P/TSX Composite Index rose 0.5% to close at 33,943 on Wednesday, reclaiming territory as a sharp tech surge and banking stability offset broader commodity weakness. Shopify led the charge, jumping 6%, while Celestica (5.1%) and CAE (4.4%) bolstered the recovery. The financial sector provided firm support as Bank of Montreal (1.3%) and TD Bank (0.8%) turned positive, helping the index offset a 1.6% drop in Constellation Software. While precious metals were mixed, with Wheaton Precious Metals gaining 1.5% and Agnico Eagle softening 0.7%, the materials sector found strength in First Quantum (3%) and Ivanhoe Mines (3.7%). Despite ongoing Middle East infrastructure risks, the TSX utilized its software and banking core to maintain its record-breaking 2026 trajectory.
2026-03-04