Canadian stocks traded positively on Friday as renewed U.S.-Iran cease-fire talks improved investor sentiment and eased some immediate concerns about a further escalation in the Middle East. The S&P/TSX Composite Index climbed by 176 points, or 0.5%, to settle at 35,369 — just 116 points below its all-time closing high.
Although a pullback in crude oil prices pressured energy stocks, strong gains in most other key market sectors, including real estate, technology, and consumer cyclicals, lifted the TSX benchmark.
Falling Canadian Treasury yields and improving risk appetite also supported equities as investors welcomed signs that Washington and Tehran had resumed discussions aimed at ending their conflict.
Top TSX Composite movers and active stocks
However, Celestica, Denison Mines, Hammond Power Solutions, and Energy Fuels fell by at least 5.5% each, making them the session’s worst-performing TSX stocks.
Shares of Canadian National Railway (TSX:CNR) were little changed after the railway operator reported strong second-quarter results and raised its full-year 2026 financial guidance. The company posted an 11% year-over-year increase in revenue, while its adjusted diluted earnings rose 11% to $2.08 per share, supported by higher grain and energy shipments, improved productivity, and strong cash flow generation.
Canadian National also increased its 2026 outlook, now expecting low single-digit revenue ton miles growth and mid- to high single-digit adjusted earnings growth. Despite the upbeat results, investors took a wait-and-see approach after the stock’s recent gains. On a year-to-date basis, CNR stock is still up 35%.
Based on their daily trade volume, Enbridge, Ivanhoe Mines, Scotiabank, Telus, and Whitecap Resources were the five most active stocks on the Toronto Stock Exchange.
TSX today
West Texas Intermediate (WTI) crude oil futures prices fell sharply in early trading on Monday, while metals prices trended higher, pointing to a mixed start for the resource-heavy TSX index today.
This drop in oil prices reflected growing optimism that the recent pause in U.S.-Iran military strikes could create room for diplomacy, easing fears of an immediate disruption to global energy supplies. However, investors remain cautious as shipping activity through both the Strait of Hormuz and the Bab el-Mandeb stayed well below normal levels over the weekend, highlighting that risks to global trade have not fully disappeared.
While no major economic releases are due this morning, markets may remain volatile ahead of the U.S. Federal Reserve’s upcoming interest rate decision due on Wednesday.
On the corporate events front, several TSX-listed companies, including Gibson Energy, TFI International, Celestica, First Capital REIT, and Topaz Energy, will release their latest quarterly earnings reports today after the closing bell.