21.10.202614:12:06UTC+00TSX Rises as Banks Gain

The S&P/TSX Composite Index climbed about 0.5% on Wednesday to trade above the 36,000 mark, buoyed by easing pressure on credit‑sensitive stocks as oil prices swung between gains and losses. Crude markets were volatile ahead of next week’s Bank of Canada monetary policy decision. The recent pause in the oil rally provided some relief to major banks, which have been under strain from persistent inflation and the prospect of prolonged higher borrowing costs. RBC, TD Bank, BMO, Scotiabank, CIBC, and National Bank each advanced roughly 1%.

Investors widely expect the BoC to raise interest rates at next week’s meeting, while the federal budget is slated for November 5th. Elsewhere, mining shares largely moved higher alongside steady gold prices, with Agnico Eagle, Barrick, and WPM gaining more than 0.5%. In the technology sector, Shopify rose more than 1.5%, and both Constellation Software and Celestica added about 1%, mirroring a rebound in US AI hardware stocks.