TSX Hits New Peak as Oil Prices Fall

2026-07-28 20:45 By Isabela Couto 1 min. read

The S&P/TSX Composite Index gained 0.5% to close at a record 35,750 on Wednesday, lifted by strength in financial and technology stocks.

Oil prices fell as hopes for a resolution to the US-Iran conflict grew, easing energy-driven inflation concerns and pushing bond yields lower.

RBC and BMO rose 1.1%, while TD Bank added 0.6%.

Brookfield (+0.7%) announced it had raised about $2 billion for a private equity fund focused on investments the Middle East.

Technology stocks soared after Celestica (+9.5%) beat second-quarter adjusted earnings estimates.

Shopify rose 2.7%, while Constellation Software jumped 6.4%.

Mining stocks fell as gold prices fell ahead of the Fed's policy decision.

Agnico Eagle lost 1.6%, Barrick fell 1.7%, and WPM dropped 2.3%.

Energy shares lost on lower oil prices, with Canadian Natural down 1.3% and Cenovus shedding 1.4%.

Great-West Lifeco (+0%), First Quantum (-2.3%), Cardinal Energy (-1.2%), and Intact Financial (+2.3%) are due to report earnings after the bell.



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TSX Hits New Peak as Oil Prices Fall
The S&P/TSX Composite Index gained 0.5% to close at a record 35,750 on Wednesday, lifted by strength in financial and technology stocks. Oil prices fell as hopes for a resolution to the US-Iran conflict grew, easing energy-driven inflation concerns and pushing bond yields lower. RBC and BMO rose 1.1%, while TD Bank added 0.6%. Brookfield (+0.7%) announced it had raised about $2 billion for a private equity fund focused on investments the Middle East. Technology stocks soared after Celestica (+9.5%) beat second-quarter adjusted earnings estimates. Shopify rose 2.7%, while Constellation Software jumped 6.4%. Mining stocks fell as gold prices fell ahead of the Fed's policy decision. Agnico Eagle lost 1.6%, Barrick fell 1.7%, and WPM dropped 2.3%. Energy shares lost on lower oil prices, with Canadian Natural down 1.3% and Cenovus shedding 1.4%. Great-West Lifeco (+0%), First Quantum (-2.3%), Cardinal Energy (-1.2%), and Intact Financial (+2.3%) are due to report earnings after the bell.
2026-07-28
TSX Slips from Record High
The S&P/TSX Composite Index edged lower on Tuesday after closing at a record high in the previous session, pressured by losses in the mining, financial, and energy sectors. Gold prices fell ahead of Wednesday's Federal Reserve policy decision. Agnico Eagle, Barrick, and WPM each lost nearly 3%. Financials also retreated, with RBC, TD Bank, BMO, CIBC, and Brookfield down about 1%. Energy shares weakened as oil prices declined on growing hopes for a resolution to the US-Iran conflict. Imperial Oil and Cenovus fell nearly 1%, while Canadian Natural lost more than 0.5%. In contrast, technology stocks outperformed after Celestica (+1%) beat earnings expectations. Shopify gained 2% and Constellation Software rose 2.5%. TFI International (+7%) also beat forecasts. Great-West Lifeco (+0.1%), First Quantum (-4%), Cardinal Energy (-1%), and Intact Financial (+1%) are due to report earnings after the closing bell.
2026-07-28
TSX Futures Steady After Record High
Futures tracking the S&P/TSX Composite Index were muted on Tuesday after closing at a record high in the prior session, as investors assessed corporate earnings and monitored developments in the Middle East. Celestica and TFI International beat second-quarter adjusted earnings estimates. Gibson Energy also topped forecasts, while First Capital Realty reported revenue in line with expectations. Tamarack Valley posted higher second-quarter revenue, supported by stronger oil prices. Great-West Lifeco, First Quantum, Cardinal Energy, and Intact Financial are due to report after the closing bell. Meanwhile, oil prices fell as hopes for a resolution to the US-Iran conflict grew, easing energy-driven inflation concerns and pushing Canadian bond yields lower. Brookfield announced it had raised about $2 billion for a private equity fund focused on investments in Saudi Arabia and the broader Middle East. Gold prices retreated on a stronger US dollar, pressuring miners.
2026-07-28