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08.10.202614:05:12UTC+00TSX Edges Higher as Energy Stocks Gain

The S&P/TSX Composite Index inched above the 35,000 mark on Thursday, lifted by strength in the energy sector and related industrial services. Crude prices jumped following reports that the United States is planning additional strikes against Iran, threatening the recent recovery in Middle Eastern oil exports.

Energy producers advanced, with Canadian Natural, Suncor, and Imperial Oil each gaining roughly 2%, while Cenovus climbed nearly 3%. Among related names, Enbridge, Waste Connections, and TC Energy added about 1% apiece.

Gold miners also firmed as bullion prices recorded modest gains after a pullback in the previous session, with Agnico Eagle and Franco-Nevada rising more than 0.5%. At the same time, global bond yields extended their advance, reflecting mounting inflationary pressures from elevated oil and fuel costs and a persistently hawkish stance from the US Federal Reserve.

Financials weakened, with RBC and BMO losing nearly 1%, while TD Bank and CIBC slipped around 0.5%.

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