22.01.202621:06:42UTC+00TSX Rises for 2nd Straight Session

On Thursday, the S&P/TSX Composite Index experienced a 0.5% uplift, closing at 33,003, driven by a positive shift in risk sentiment across North America. This rally followed President Trump's decision to back away from imposing planned tariffs on Europe and the introduction of a framework related to Greenland, enhancing the mood on Bay Street. The financial sector led the upward movement with notable gains from the Royal Bank of Canada (up 0.2%), TD Bank (up 0.8%), Bank of Montreal (rising 1.9%), and CIBC (increasing 0.7%). The industrials sector also contributed positively, as Canadian Pacific advanced by 0.3% after confirming its plan to acquire 30 Tier 4 locomotives, part of an $800 million US investment. Conversely, the energy sector faced challenges due to declining crude oil prices, leading to setbacks for Canadian Natural Resources (down 1.7%), Suncor (falling 1.6%), Imperial Oil (down 1.2%), and Cenovus (decreasing 0.6%). The materials sector delivered mixed results; however, precious metals companies performed well, with Agnico Eagle climbing 3.6% and Wheaton gaining 4.2%, while Barrick remained relatively unchanged.