TSX Edges Higher as Banks Rise
The S&P/TSX Composite Index edged higher to trade around the 36,000 mark on Monday amid gains among major banks. Oil prices fell on hopes for diplomatic progress between the US and Iran. Iranian President Masoud Pezeshkian is expected to attend the UN General Assembly this week, and US President Trump said he would be open to meeting him. Yields eased as the halt in the oil rally cooled concerns over spreading inflationary pressures from energy costs, lending support to credit-sensitive shares. Major banks rose, with RBC, TD Bank, BMO, Scotiabank, and CIBC advancing nearly 1.5%. BoC Governor Macklem’s emphasized in a speech that monetary policy cannot reverse tariffs or change gasoline prices, while noting that the BoC’s role is to assess whether these shocks will have lasting effects on inflation and economic growth. Energy shares fell on lower crude prices, Canadian Natural and Suncor shedmore than 2%. Miners were also mostly lower as gold prices eased, WPM lost about 2%.
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The S&P/TSX Composite Index edged higher to trade around the 36,000 mark on Monday amid gains among major banks. Oil prices fell on hopes for diplomatic progress between the US and Iran. Iranian President Masoud Pezeshkian is expected to attend the UN General Assembly this week, and US President Trump said he would be open to meeting him. Yields eased as the halt in the oil rally cooled concerns over spreading inflationary pressures from energy costs, lending support to credit-sensitive shares.
5%. BoC Governor Macklem’s emphasized in a speech that monetary policy cannot reverse tariffs or change gasoline prices, while noting that the BoC’s role is to assess whether these shocks will have lasting effects on inflation and economic growth. Energy shares fell on lower crude prices, Canadian Natural and Suncor shedmore than 2%. Miners were also mostly lower as gold prices eased, WPM lost about 2%.