Stocks in Canada Hit 5-week High

The S&P/TSX Composite Index rose more than 0.5% to above 36,000 on Friday, supported by gains in the banking and energy sectors. The oil rally lost momentum, offering some relief to credit-sensitive stocks that had been under pressure from energy-driven inflation concerns. Bond yields remained below recent peaks. Major banks advanced, with RBC, BMO, Scotiabank and CIBC each gaining about 0.5%. Energy companies also rose despite the slowdown in oil prices, with Canadian Natural adding more than 1% and Suncor, Imperial Oil and Cenovus gaining over 1.5%. Energy-related infrastructure stocks advanced as well, with Enbridge up more than 0.5%. Miners were subdued despite higher silver and copper prices, as gold traded near flat. Meanwhile, Bank of Canada Governor Tiff Macklem said Canada had not yet raised interest rates but warned that the longer energy prices remain elevated, “the harder that gets.” Markets are currently pricing in a rate hike at the next policy meeting.

TSX increased to 36412.00 Index Points, the highest since September 2026. Over the past 4 weeks, Canada Stock Market Index (TSX) gained 2.52%, and in the last 12 months, it increased 19.46%.

Futures tied to Canada’s stock market edged higher on Friday, supported by rising metal prices. Silver and copper prices advanced, while gold edged higher, lending support to mining stocks. Canadian mining companies listed in the US also moved higher in premarket trading. Meanwhile, the oil rally lost momentum, offering some relief to credit-sensitive stocks that have been under pressure from energy-driven inflation concerns. Bond yields edged higher but remained below recent peaks. In contrast, Bank of Canada Governor Tiff Macklem said Canada had not yet raised interest rates, but warned that the longer energy prices remain elevated, “the harder that gets.” Markets are currently pricing in a rate hike at the next policy meeting.