The S&P/TSX Composite Index advanced more than 0.5% on Wednesday, trading near the 36,500 mark, supported primarily by strength in energy producers. Crude oil pared earlier losses amid ongoing US–Iran tensions, as deep divisions between the two sides continued to impede negotiations. Canadian Natural, Suncor, Imperial Oil, and Cenovus each gained roughly 1%.
Technology shares also moved higher, bolstered by upbeat results from CoreWeave. Shopify climbed 1%, Celestica surged 6%, and Constellation Software added more than 0.5%. Major banks were mostly in positive territory despite the renewed oil rally stoking inflation concerns, with both TD Bank and Scotiabank rising more than 0.5%.
In contrast, gold prices slipped following a steep decline in the previous session that had already weighed heavily on major Canadian miners, prompting further losses. Agnico Eagle and Barrick each fell more than 0.5%, while Franco-Nevada edged lower ahead of its earnings release. Elsewhere, Power Corporation of Canada rose nearly 1% in advance of its results.
