TSX Edges Higher as Energy Stocks Rally

2026-10-08 20:35 By Isabela Couto 1 min. read

The S&P/TSX Composite Index edged 0.3% higher on Thursday, supported by gains in the energy and related industrial services sectors.

Oil prices surged throughout the session on reports that the US is planning new strikes against Iran, risking the recent rebound in Middle Eastern oil exports.

Energy producers gained, with Canadian Natural up 3%, Cenovus adding 2.5%, Suncor rising 3.7% and Imperial Oil advancing 2.6%.

Enbridge rose 1.1% and TC Energy gained 1.6%.

Mining shares picked up as gold prices firmed, with Agnico Eagle rising 1.7%, Barrick up 1.8% and WPM adding 0.9%.

Global yields remained elevated amid intensifying inflationary pressures from high oil and fuel prices and a hawkish US Federal Reserve backdrop.

Financials posted losses, with RBC losing 0.7%, BMO down 1%, CIBC shedding 0.6% and National Bank falling 1.7%.

The tech sector tracked losses on Wall Street, with Shopify down 1%.



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TSX Edges Higher as Energy Stocks Rally
The S&P/TSX Composite Index edged 0.3% higher on Thursday, supported by gains in the energy and related industrial services sectors. Oil prices surged throughout the session on reports that the US is planning new strikes against Iran, risking the recent rebound in Middle Eastern oil exports. Energy producers gained, with Canadian Natural up 3%, Cenovus adding 2.5%, Suncor rising 3.7% and Imperial Oil advancing 2.6%. Enbridge rose 1.1% and TC Energy gained 1.6%. Mining shares picked up as gold prices firmed, with Agnico Eagle rising 1.7%, Barrick up 1.8% and WPM adding 0.9%. Global yields remained elevated amid intensifying inflationary pressures from high oil and fuel prices and a hawkish US Federal Reserve backdrop. Financials posted losses, with RBC losing 0.7%, BMO down 1%, CIBC shedding 0.6% and National Bank falling 1.7%. The tech sector tracked losses on Wall Street, with Shopify down 1%.
2026-10-08
TSX Edges Higher as Energy Stocks Gain
The S&P/TSX Composite Index edged higher above 35,000 on Thursday, supported by gains in the energy and related industrial services sectors. Oil prices surged on reports that the US is planning new strikes against Iran, risking the recent rebound in Middle Eastern oil exports. Energy producers gained, with Canadian Natural, Suncor and Imperial Oil up about 2% each, while Cenovus added nearly 3%. Enbridge, Waste Connections and TC Energy rose about 1% each. Most gold miners edged higher as gold prices posted modest gains after falling in the prior session, with Agnico Eagle and Franco-Nevada up more than 0.5%. Global yields also extended their rally amid intensifying inflationary pressures from high oil and fuel prices and a hawkish US Federal Reserve backdrop. Financials posted losses, with RBC and BMO down nearly 1%, while TD Bank and CIBC fell about 0.5%.
2026-10-08
TSX Futures Edge Lower as Oil Prices and Bond Yields Rise
Futures linked to Canada’s stock market edged lower on Thursday amid strains in global bond markets and a surge in oil prices. Oil prices surged on reports that the US is planning new strikes against Iran, risking the recent rebound in Middle Eastern oil exports and intensifying inflationary pressures. Global yields also extended their rally as a hawkish US Federal Reserve’s s backdrop worsened the outlook for credit-sensitive stocks. Meanwhile, uncertainty over US-Canada trade ties persisted, with US President Donald Trump suggesting that Canada has not been easy to deal with, casting doubt over the potential for a new trade deal. On the other hand, gold prices rebounded slightly, offering some respite to mining stocks that have been under pressure amid falling prices.
2026-10-08