Canadian Stocks Underperform

2026-05-01 13:53 By Andre Joaquim 1 min. read

Canada's S&P/TSX Composite index inched lower on Friday, underperforming its US counterparts on pressure from energy producers and banks as markets parsed a batch of earnings reports.

Crude oil prices pulled back for a second session despite the continued impasse between Iran and the US, which prolonged the blockade against tankers and vessels in the region.

Canadian Natural and Suncor were both around 1% lower.

Meanwhile, heavyweight banks dropped on the pessimistic spending demand highlighted by the domestic GDP report released yesterday, with TD and RBC trading in the red.

Meanwhile, Fairfax Financial slumped 5% after missing its earnings estimate.

Similarly, Magna fell 5% on not meeting orders expectations.

Also, TC Energy and Agnico Eagle Mines fell over 1% after the release of its quarterly report.

Lastly, Air Canada dropped 1.5% after abandoning this year's guidance.



News Stream
Canadian Stocks Underperform
Canada's S&P/TSX Composite index inched lower on Friday, underperforming its US counterparts on pressure from energy producers and banks as markets parsed a batch of earnings reports. Crude oil prices pulled back for a second session despite the continued impasse between Iran and the US, which prolonged the blockade against tankers and vessels in the region. Canadian Natural and Suncor were both around 1% lower. Meanwhile, heavyweight banks dropped on the pessimistic spending demand highlighted by the domestic GDP report released yesterday, with TD and RBC trading in the red. Meanwhile, Fairfax Financial slumped 5% after missing its earnings estimate. Similarly, Magna fell 5% on not meeting orders expectations. Also, TC Energy and Agnico Eagle Mines fell over 1% after the release of its quarterly report. Lastly, Air Canada dropped 1.5% after abandoning this year's guidance.
2026-05-01
TSX Rises on GDP Estimates and Oil Retreat
The TSX rose 1.9% to close at 33,964 on Thursday, supported by lower oil prices and fresh economic data. A flash estimate showed Canada’s GDP grew 0.4% in Q1, despite a stall in March. The pullback in oil eased pressure on financials and the broader index, reinforcing the Bank of Canada’s decision to hold rates amid anchored inflation expectations. BMO rose 1.9%, TD gained 2.3%, and Royal Bank of Canada added 2%. Gold prices advanced on a weaker dollar, lifting miners, with Agnico Eagle up 1.8% and Barrick rising 1.5%. Meanwhile, Shopify slipped 0.7% amid uncertainty surrounding Meta’s earnings in the US.
2026-04-30
TSX Up on Falling Oil Quotes
The S&P/TSX Composite Index rose about 1% to trade above 33,500 on Thursday, following a retreat in oil prices and the release of major economic data. A flash estimate indicated that the Canadian GDP expanded by 0.4% in the first quarter despite a stall in March. The dip in oil prices eases pressure on the banking sector and the broader index, backing the push against rate hikes by the BoC yesterday amid evidence of anchored inflation expectations. BMO and TD gained near 1% while Royal Bank of Canada was up 0.5%. Meanwhile, gold prices advanced on a weaker dollar, supporting miners. Agnico Eagle added more than 2% while Barrick was up over 1.5%. Meanwhile, Shopify fell over 1% on uncertainty in Meta's earnings in the US.
2026-04-30