25.03.202620:05:09UTC+00TSX Posts Strong Gains Mid-Week

The S&P/TSX Composite Index climbed 1.4% to close at 32,383 on Wednesday, as growing optimism over a potential diplomatic resolution in the Middle East sparked a broad-based rally in Canadian equities. Financials remained a key engine of gains: TD Bank and Bank of Nova Scotia rose 1.3% and 1%, respectively, while Royal Bank of Canada and Bank of Montreal advanced 0.6% and 0.9%, supported by declining bond yields that improved the credit outlook. Gold producers also outperformed, with Agnico Eagle surging 5.2% and Kinross up 4.3%, buoyed by firm bullion prices and a weaker US dollar. In technology, sentiment was boosted by a 2.4% rise in Shopify, while Dollarama added 2% following a recent upgrade. In a notable shift from earlier sessions, energy producers traded higher despite a daily pullback in crude prices, with Suncor Energy advancing 1.3% and Imperial Oil gaining 1.4%. This resilience helped the benchmark index absorb pressure from the telecommunications sector, where BCE and Telus each slipped by around 1%.