The Canadian stock market continued to rise for the third consecutive session on Monday as falling crude oil prices and a rebound in metals after the proposed U.S.-Iran framework and easing concerns around global energy supply disruptions boosted investor confidence. The S&P/TSX Composite Index climbed by 338 points, or 1%, to settle at a fresh record high of 35,276 — taking its three-session gains to 3.3%.
Despite weakness in some sectors, such as energy, healthcare, and real estate, strong intraday gains in mining, technology, and utility stocks helped lift the TSX benchmark to another record close.
Top TSX Composite movers and active stocks
With gold prices rising nearly 6% over the last three sessions, mining stocks, including G Mining Ventures, Montage Gold, Aya Gold & Silver, and Eldorado Gold, jumped more than 10% each, making them Monday’s top-performing TSX stocks.
However, Baytex Energy, Methanex, Vermilion Energy, and Kinaxis were the worst-performing TSX stocks for the day, as they plunged by at least 4.9% each.
Keyera (TSX:KEY) also slid by 3.1% to $57.20 per share, making it among the day’s bottom performers on the Toronto Stock Exchange. This weakness in KEY stock came after the Canadian energy infrastructure firm provided a business update and long-term growth outlook following the completion of its acquisition of Plains’ Canadian Natural Gas Liquids assets.
At the same time, Keyera highlighted plans for industry-leading, fee-based adjusted earnings before interest, taxes, depreciation, and amortization per-share growth through 2029, increased its near-term synergy target to $120-$140 million, and reaffirmed its capital-allocation strategy. However, investors appeared cautious about the integration risks and execution required to achieve these ambitious targets. In addition, Keyera also updated its 2026 guidance, including growth capital spending of $550 million to $625 million.
Based on their daily trade volume, Canadian Natural Resources, Cenovus Energy, Enbridge, Suncor Energy, and Pembina Pipeline were the five most active stocks on the exchange.
TSX today
West Texas Intermediate crude oil futures prices fell to their lowest level in over three months in early trading on Tuesday, which could pressure TSX energy stocks at the open today. Nevertheless, firm gold and silver prices could help limit broader market weakness by supporting mining shares and other resource-linked stocks.
While no major domestic economic releases are due, Canadian investors will continue to monitor developments surrounding the proposed U.S.-Iran agreement, which has improved risk appetite in recent sessions. Reports indicate that both sides are working toward a memorandum of understanding that would reopen the Strait of Hormuz and extend the current ceasefire, although talks on key issues such as Iran’s nuclear program and sanctions relief are expected to continue over the coming weeks.
In addition, market expectations from the U.S. Federal Reserve’s upcoming interest rate decision, scheduled for Wednesday, are likely to drive investor sentiment.
