TSX Dips on Banks and Miners Losses

2026-10-30 21:02 By Isabela Couto 1 min. read

The S&P/TSX Composite Index fell more than 1.7% to close at 36,620 as rebounding oil prices renewed inflation concerns.

Crude rose after a tanker attack in the Strait of Hormuz underscored supply risks.

Energy-driven inflation concerns have weighed on major banks since the start of the US-Iran war, raising the risk that interest rates will remain higher for longer.

RBC fell 1.5%, TD Bank lost 2.3%, and BMO shed 2.9%.

Meanwhile, lower gold prices pressured heavyweight miners, with Agnico Eagle down 6%, Barrick losing 4.6%, and WPM shedding 5.7%.

Technology stocks also posted heavy losses amid a major selloff in US chipmakers and hyperscalers.

Celestica fell 6.8%, while Shopify lost 5.7%.

Elsewhere, Cameco sank 7.7% after reporting a net loss in the third quarter of 2026 despite higher revenue.

Imperial Oil gained 5.4% after beating profit estimates, while Canadian National Railway shed 0.5% despite also posting strong results.

The TSX lost 0.7% on the week but gained 1.5% for the month.



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TSX Dips on Banks and Miners Losses
The S&P/TSX Composite Index fell more than 1.7% to close at 36,620 as rebounding oil prices renewed inflation concerns. Crude rose after a tanker attack in the Strait of Hormuz underscored supply risks. Energy-driven inflation concerns have weighed on major banks since the start of the US-Iran war, raising the risk that interest rates will remain higher for longer. RBC fell 1.5%, TD Bank lost 2.3%, and BMO shed 2.9%. Meanwhile, lower gold prices pressured heavyweight miners, with Agnico Eagle down 6%, Barrick losing 4.6%, and WPM shedding 5.7%. Technology stocks also posted heavy losses amid a major selloff in US chipmakers and hyperscalers. Celestica fell 6.8%, while Shopify lost 5.7%. Elsewhere, Cameco sank 7.7% after reporting a net loss in the third quarter of 2026 despite higher revenue. Imperial Oil gained 5.4% after beating profit estimates, while Canadian National Railway shed 0.5% despite also posting strong results. The TSX lost 0.7% on the week but gained 1.5% for the month.
2026-10-30
TSX Falls as Oil Rebound Revives Inflation Fears
The S&P/TSX Composite Index fell more than 1% to below 36,000 as oil prices rebounded, renewing inflation concerns. Crude rose after a tanker attack in the Strait of Hormuz underscored supply risks. Energy-driven inflation concerns have weighed on major banks since the start of the US-Iran war, raising the risk of interest rates staying higher for longer. TD Bank, BMO and National Bank fell more than 1%. Meanwhile, lower gold prices pressured heavyweight miners, with Agnico Eagle and Barrick down over 4% and Wheaton Precious Metals shedding nearly 5%. Elsewhere, Cameco sank 11% after reporting a net loss in the third quarter of 2026 despite higher revenue. Imperial Oil edged lower despite beating profit estimates, while Canadian National Railway gained nearly 1.5% after also posting strong results. The TSX was on track to close nearly flat for the week and gain more than 1.5% for the month.
2026-10-30
TSX Futures Slip as Oil Rebound Renews Inflation Concerns
Futures tracking Canadian stocks slipped on Friday as oil prices rebounded, renewing inflation concerns. Crude rose after a tanker attack in the Strait of Hormuz underscored supply risks. Energy-driven inflation concerns have weighed on major banks since the start of the US-Iran war by raising the risk of interest rates staying higher for longer. Meanwhile, falling gold prices put pressure on mining shares. Elsewhere, Cameco traded lower in US premarket trading after reporting a net loss in the third quarter of 2026, despite higher revenue. In contrast, Imperial Oil topped profit estimates, supported by elevated crude prices, while Canadian National Railway also posted strong results. The S&P/TSX Composite Index remained on track for a weekly gain of more than 1%.
2026-10-30