TSX Rises as Banks and Energy Stocks Advance

The S&P/TSX Composite Index rose 0.9% to close at 35,984 on Tuesday as Canadian bond yields stabilized. The pause in the recent rally that had pushed yields to multi-year highs supported credit-sensitive sectors such as banking. RBC rose 1.3%, TD Bank gained 2.2%, BMO advanced 1.3%, and Scotiabank and CIBC added 1.8% each. Energy producers also advanced as oil prices erased earlier losses. Canadian Natural jumped 4.8%, Suncor rose 3.7%, Imperial Oil gained 4.5% and Cenovus advanced 4.2%. In technology, Shopify and Constellation Software rose 3% each amid gains in US hyperscalers, while Celestica fell 1.7%, tracking losses among chipmakers. Elsewhere, CSG acquired a 9.5% stake in MDA Space, becoming its largest shareholder; MDA gained 1.1%. Miners declined as gold prices fell, with Barrick down 1.4% and Agnico Eagle and WPM shedding 2.1% each.

The S&P/TSX Composite Index edged higher to above 35,500 on Tuesday as bond yields stabilized. Oil prices halted their rebound after US President Trump said Russia could resume diesel exports to the US. This supported credit-sensitive sectors such as banking. RBC rose more than 0.5%, while TD Bank, BMO, Scotiabank and CIBC gained about 1% each. Energy producers also advanced despite the pause in the oil rally, as prices remained elevated, with Canadian Natural, Suncor and Imperial Oil up about 3% each. Gold prices pared earlier gains, with Agnico Eagle, Barrick and WPM shedding around 1% each. Elsewhere, CSG announced it had acquired a 9.5% stake in MDA Space, becoming the company’s largest shareholder; MDA traded near the flatline. In technology, Shopify jumped 4% and Constellation Software rose 3.5% amid gains in US hyperscalers and other software stocks, while Celestica fell 7%, tracking losses among chipmakers.

Futures tied to Canada's stock market rose on Tuesday as bond yields stabilized and gold prices edged higher. Oil prices fell, on track for their first decline in nearly a week after US President Trump stated Russia could restart diesel exports to the US. The halt in the energy rally supported credit-sensitive sectors such as banking. Gold prices edged higher, providing some support to major Canadian miners. Elsewhere, CSG announced that it had acquired a 9.5% stake in MDA Space, becoming the company's largest shareholder.