The S&P/TSX Composite Index rose nearly 1% on Monday to trade above 34,500, recovering part of Friday’s slump, when the benchmark recorded its sharpest decline since February 12. Steady bond yields bolstered financials and the broader market, as investors drew some relief from indications that weekend strikes between Iran and Israel were unlikely to escalate into a wider conflict.
Banks led the advance, with RBC, TD Bank, and BMO each gaining around 1%. Energy stocks also moved higher as oil prices, though off earlier peaks, remained elevated. Canadian Natural climbed more than 2%, while Suncor added nearly 3%. In contrast, gold prices were little changed, easing some support for mining shares, though Barrick and Franco-Nevada still rose more than 0.6%.
