TSX Gains as Oil Rally Pauses

2026-09-11 20:36 By Isabela Couto 1 min. read

The S&P/TSX Composite Index rose 0.5% to close at 35,697 on Friday as oil prices pulled back on prospects for diplomatic efforts to ease tensions around the Strait of Hormuz.

Gulf foreign ministers are expected to meet their Iranian counterpart in Oman on Monday as part of efforts to secure support for a temporary arrangement to manage shipping through the strait.

The pause in the oil rally allowed equities to enjoy some respite.

Credit-sensitive stocks posted gains, with TD Bank and BMO up 0.8% each, while Scotiabank added 0.9%.

Gold prices rebounded, supporting heavyweight mining stocks, with Agnico Eagle rising 2.2%, while WPM and Franco-Nevada gained 2.4% each.

Tech stocks advanced, tracking strength in US hyperscalers and chipmakers, with Shopify up 1.9%, Constellation Software adding 2.5%, and Celestica jumping 6.6%.

Descartes Systems surged 6.9% after reporting second-quarter revenue slightly above estimates.

Still, the S&P/TSX Composite Index lost 1.7% on a weekly basis.



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TSX Gains as Oil Rally Pauses
The S&P/TSX Composite Index rose 0.5% to close at 35,697 on Friday as oil prices pulled back on prospects for diplomatic efforts to ease tensions around the Strait of Hormuz. Gulf foreign ministers are expected to meet their Iranian counterpart in Oman on Monday as part of efforts to secure support for a temporary arrangement to manage shipping through the strait. The pause in the oil rally allowed equities to enjoy some respite. Credit-sensitive stocks posted gains, with TD Bank and BMO up 0.8% each, while Scotiabank added 0.9%. Gold prices rebounded, supporting heavyweight mining stocks, with Agnico Eagle rising 2.2%, while WPM and Franco-Nevada gained 2.4% each. Tech stocks advanced, tracking strength in US hyperscalers and chipmakers, with Shopify up 1.9%, Constellation Software adding 2.5%, and Celestica jumping 6.6%. Descartes Systems surged 6.9% after reporting second-quarter revenue slightly above estimates. Still, the S&P/TSX Composite Index lost 1.7% on a weekly basis.
2026-09-11
TSX Rises as Oil Prices Ease
The S&P/TSX Composite Index rose nearly 1% to trade close to 36,000 on Friday as oil prices pulled back on prospects for diplomatic efforts to ease tensions around the Strait of Hormuz. Gulf foreign ministers are expected to meet their Iranian counterpart in Oman on Monday as part of efforts to secure support for a temporary arrangement to manage shipping through the strait. The halt in the oil rally allowed equities to enjoy some respite. Major banks were higher, with TD Bank, BMO, Scotiabank and CIBC gaining about 1% each. Gold prices rebounded, supporting heavyweight mining stocks, with Agnico Eagle, Franco-Nevada and WPM rising more than 2.5%, while Barrick gained more than 2%. Copper rebounded after its decline on Thursday dragged copper miners sharply lower. Hudbay Minerals rose more than 1.5% after sinking over 7% in the previous session. Elsewhere, Descartes Systems jumped about 4.5% after reporting second-quarter revenue slightly above estimates.
2026-09-11
TSX Futures Rise as Oil Pulls Back
Futures tracking Canadian stocks rose on Friday as oil prices pulled back on prospects for diplomatic efforts to ease tensions around the Strait of Hormuz. Gulf foreign ministers are expected to meet their Iranian counterpart in Oman on Monday as part of efforts to secure support for a temporary arrangement to manage shipping through the strait. The halt in the energy prices surge allowed equities to enjoy some respite. Meanwhile, the US CPI held steady at 3.4% annually in August 2026, loosely aligned with expectations. Gold prices rebounded, supporting heavyweight mining stocks, while copper extended its decline after dragging copper miners lower on Thursday. Elsewhere, Descartes Systems reported second-quarter revenue slightly above estimates.
2026-09-11