TSX Inches Lower as Soft GDP and Trade War Weigh

2026-09-29 20:24 By Isabela Couto 1 min. read

The S&P/TSX Composite Index inched lower to close at 35,460 on Tuesday following subdued GDP data and as a US ban on multiple Canadian imports came into force.

Advance information showed that real GDP increased 0.2% in August, with gains in mining and quarrying and retail trade partly offset by a decline in oil and gas extraction.

GDP was essentially unchanged in July.

The US ban on various Canadian goods, including many alcoholic beverages and dairy products, also took effect, with Saputo losing 2%.

Major banks posted losses, with RBC down 0.6%.

Meanwhile, oil prices pulled back as US and Iranian officials continued separate discussions with mediators.

Energy producers retreated, with Canadian Natural down 0.7% and Suncor falling 1.7%.

In contrast, miners rebounded from yesterday’s losses as gold prices rose, with Agnico Eagle gaining 1.1% and Franco-Nevada up 0.9%.

Tech stocks also gained as the planned Anthropic IPO on Wall Street lent support to the sector, with Shopify up 2.9%.



News Stream
TSX Inches Lower as Soft GDP and Trade War Weigh
The S&P/TSX Composite Index inched lower to close at 35,460 on Tuesday following subdued GDP data and as a US ban on multiple Canadian imports came into force. Advance information showed that real GDP increased 0.2% in August, with gains in mining and quarrying and retail trade partly offset by a decline in oil and gas extraction. GDP was essentially unchanged in July. The US ban on various Canadian goods, including many alcoholic beverages and dairy products, also took effect, with Saputo losing 2%. Major banks posted losses, with RBC down 0.6%. Meanwhile, oil prices pulled back as US and Iranian officials continued separate discussions with mediators. Energy producers retreated, with Canadian Natural down 0.7% and Suncor falling 1.7%. In contrast, miners rebounded from yesterday’s losses as gold prices rose, with Agnico Eagle gaining 1.1% and Franco-Nevada up 0.9%. Tech stocks also gained as the planned Anthropic IPO on Wall Street lent support to the sector, with Shopify up 2.9%.
2026-09-29
TSX Near Flat as Trade Tensions Weigh
The S&P/TSX Composite Index was near flat around 35,500 on Tuesday following subdued GDP data and as a US ban on multiple Canadian imports came into force. Advance information showed that real GDP increased 0.2% in August, with gains in mining and quarrying and retail trade partly offset by a decline in oil and gas extraction. GDP was essentially unchanged in July. The US ban on various Canadian goods, including many alcoholic beverages and dairy products, also took effect, with Saputo and Nutrien edging lower. Meanwhile, oil prices pulled back as US and Iranian officials continued separate discussions with mediators. Energy producers retreated, with Canadian Natural and Suncor losing about 1%. Miners were subdued following Monday’s selloff despite higher gold prices. Major banks also traded mostly below the flatline despite the halt in the oil rally giving a respite to energy-driven inflation concerns.
2026-09-29
TSX Futures Edge Higher Following GDP Data
Futures tracking Canadian equities edged higher on Tuesday following subdued GDP data, reinforcing expectations that the Bank of Canada is unlikely to raise rates this year. Advance information showed that real GDP increased 0.2% in August, with gains in mining and quarrying and retail trade partly offset by a decline in oil and gas extraction. GDP was essentially unchanged in July. Meanwhile, oil prices pulled back as US and Iranian officials continued separate discussions with mediators. Easing crude and fuel prices offered some relief to credit-sensitive stocks, which had been under pressure from inflation concerns stemming from the oil rally. Gold prices moved higher, lending support to mining shares.
2026-09-29