TSX Edges Higher as Banks Gain
The S&P/TSX Composite Index edged above 36,000 on Tuesday, supported by the banking sector. RBC, TD Bank, BMO and CIBC each rose about 0.5% as the oil rally lost steam, providing some relief to credit-sensitive sectors that have been under pressure from energy-driven inflation. Retailers posted solid gains, with Loblaw up 1.5% and ATD adding more than 2.5%. In the technology sector, Shopify rose 0.5% and Constellation Software gained 2.5%, despite a selloff in Wall Street chipmakers and hyperscalers, while Celestica fell more than 4%. Mining stocks declined amid falling gold prices, with Agnico Eagle and Barrick each down about 1%, while WPM lost more than 1.5%. Energy producers were subdued as crude oil prices pared gains, with Suncor and Cenovus each losing nearly 1%.
The S&P/TSX Composite Index edged above 36,000 on Tuesday, supported by the banking sector. RBC, TD Bank, BMO and CIBC each rose about 0.5% as the oil rally lost steam, providing some relief to credit-sensitive sectors that have been under pressure from energy-driven inflation. Retailers posted solid gains, with Loblaw up 1.5% and ATD adding more than 2.5%. In the technology sector, Shopify rose 0.5% and Constellation Software gained 2.5%, despite a selloff in Wall Street chipmakers and hyperscalers, while Celestica fell more than 4%.
Mining stocks declined amid falling gold prices, with Agnico Eagle and Barrick each down about 1%, while WPM lost more than 1.5%. Energy producers were subdued as crude oil prices pared gains, with Suncor and Cenovus each losing nearly 1%.