TSX Gains on BoC Rate-Hold Bets

2026-10-09 20:39 By Isabela Couto 1 min. read

The S&P/TSX Composite Index rose 1.5% to close at 35,665 on Friday as weaker employment data reinforced expectations that the Bank of Canada will refrain from hiking rates.

Employment fell by 68,300, missing expectations for a 7,000 increase.

The unemployment rate edged up to 6.5%, in line with forecasts.

Canadian yields fell, supporting credit-sensitive stocks.

RBC rose 1.1%, TD gained 1.2%, BMO advanced 1.6%, and Scotiabank and CIBC added 1.3% each.

Gold prices also advanced, lifting mining shares, with Agnico Eagle up 3.2% and Barrick and WPM gaining 2.9% each.

Lundin surged 10.5% after its Fruta del Norte mine in Ecuador posted its strongest production quarter on record.

Energy producers also gained despite volatile oil prices.

Technology stocks advanced amid strength among US hyperscalers, with Shopify up 4.1%.

Elsewhere, Aritzia surged 20.5% after beating expectations for second-quarter revenue and profit.

The TSX rose 0.9% weekly.



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