TSX Rises on Energy Gains
The S&P/TSX Composite Index rose over 0.5% to hover near 36,500 on Wednesday with support from energy producers. Crude oil pared losses amid persistent US-Iran tensions, with major disagreements between the two parties posing obstacles to negotiations. Canadian Natural, Suncor, Imperial Oil and Cenovus each added about 1%. Technology stocks also gained, supported by upbeat results from CoreWeave. Shopify rose 1%, Celestica jumped 6%, and Constellation Software gained over 0.5%. Major banks were mostly higher despite the renewed oil rally reviving inflation concerns, with TD Bank and Scotiabank each up more than 0.5%. Meanwhile, gold prices edged lower after a sharp drop in the prior session that hit major Canadian miners, driving them to extend losses. Agnico Eagle and Barrick fell over 0.5%, and Franco-Nevada edged lower ahead of its earnings report. Elsewhere, Power of Canada added nearly 1% ahead of its earnings.
The S&P/TSX Composite Index rose over 0.5% to hover near 36,500 on Wednesday with support from energy producers. Crude oil pared losses amid persistent US-Iran tensions, with major disagreements between the two parties posing obstacles to negotiations. Canadian Natural, Suncor, Imperial Oil and Cenovus each added about 1%. Technology stocks also gained, supported by upbeat results from CoreWeave.
Shopify rose 1%, Celestica jumped 6%, and Constellation Software gained over 0.5%. Major banks were mostly higher despite the renewed oil rally reviving inflation concerns, with TD Bank and Scotiabank each up more than 0.5%. Meanwhile, gold prices edged lower after a sharp drop in the prior session that hit major Canadian miners, driving them to extend losses. Agnico Eagle and Barrick fell over 0.5%, and Franco-Nevada edged lower ahead of its earnings report.
Elsewhere, Power of Canada added nearly 1% ahead of its earnings.