2026.10.0820:35:12UTC+00TSX Edges Higher as Energy Stocks Rally

The S&P/TSX Composite Index advanced 0.3% on Thursday, lifted by strength in the energy and related industrial services sectors. Crude prices climbed sharply throughout the session following reports that the US is preparing new strikes against Iran, raising the risk of disruption to the recent recovery in Middle Eastern oil exports.

Energy producers outperformed, with Canadian Natural up 3%, Cenovus adding 2.5%, Suncor gaining 3.7% and Imperial Oil rising 2.6%. Pipeline operators also moved higher, as Enbridge advanced 1.1% and TC Energy increased 1.6%.

Mining stocks firmed alongside gold, with Agnico Eagle up 1.7%, Barrick gaining 1.8% and WPM adding 0.9%. Global bond yields remained elevated amid mounting inflationary pressures from higher oil and fuel prices, reinforced by a hawkish policy backdrop from the US Federal Reserve.

Financials dragged on the index, with RBC down 0.7%, BMO off 1%, CIBC losing 0.6% and National Bank falling 1.7%. The technology sector followed Wall Street lower, as Shopify declined 1%.