Canadian Stocks Advance as Oil Rally Cools

2026-10-20 20:27 By Isabela Couto 1 min. read

The S&P/TSX Composite Index rose 0.5% to close at 36,108 on Tuesday, supported by gains in the banking sector.

RBC advanced 1%, TD Bank gained 1.2%, and Scotiabank and CIBC each added 0.9% as the oil rally lost steam, easing pressure on credit-sensitive sectors hit by energy-driven inflation.

Infrastructure and utility-related stocks also advanced, with Enbridge up 1.1%, TC Energy gaining 1.3%, and Waste Connections rising 1.8%.

Retailers also posted gains, with Loblaw up 0.5% and ATD adding 1.9%.

In technology, Shopify rose 1% and Constellation Software gained 2.6%, despite a selloff in US chipmakers and hyperscalers, while Celestica slipped 0.5%.

Energy producers were subdued as crude prices pared gains, with Cenovus down 0.5%.

Mining stocks fell alongside gold prices, with Agnico Eagle and WPM each losing 1%.



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