TSX closes up 94 points as tech, energy gain after BoC hike

Canada’s main stock index closed higher Wednesday, supported by technology and energy shares, as the Bank of Canada raised its key interest rate to 2.5 per cent. The S&P/TSX composite index rose 93.60 points, or 0.259 per cent, to 36,265.09, TMX Money data showed.

Yahoo Finance and Baystreet.ca showed the same close of 36,265.09. The index opened at 36,165.68 and traded between 36,097.97 and 36,324.99, compared with Tuesday’s close of 36,171.49, TMX Money said. About 245.5 million shares changed hands. The index is up 14.355 per cent so far this year and 2.921 per cent for October, according to TMX Money.

Baystreet.ca reported that only three of the 12 sector groups gained. Information technology rose 1.7 per cent, energy was up 1.5 per cent and financials added 0.4 per cent. Telecommunications fell one per cent, real estate lost 0.9 per cent and consumer discretionary dropped 0.7 per cent. The gains came after the Bank of Canada raised its overnight rate target by 25 basis points from 2.25 per cent, with the bank rate at 2.75 per cent and the deposit rate at 2.45 per cent, the central bank said. Borrowers with variable-rate loans will feel the change, as we reported on the mortgage cost. The next rate announcement is scheduled for Dec. 9.

Among gold miners, Baystreet.ca said Agnico Eagle Mines Ltd. (TSX:AEM) recovered $2.33 to $256.08, while Alamos Gold Inc. (TSX:AGI) fell 58 cents, or 1.3 per cent, to $44.29. First Quantum Minerals Ltd. (TSX:FM) lost 17 cents to $35.89 and Kinross Gold Corp. (TSX:K) shed 13 cents to $32.18. All four companies are due to report earnings. In company news, Tamarack Valley Energy Ltd. (TSX:TVE) raised its 2026 average production forecast in its third-quarter results, and its shares rose a cent to $14.70. Trican Well Service Ltd. (TSX:TCW) said its third-quarter profit rose on higher activity and better equipment utilization, and its shares gained five cents to $6.97.

The S&P/TSX Venture composite index rose 0.52 of a point, or 0.062 per cent, to 839.00, according to TMX Money. On Wall Street, the Nasdaq composite gained 72.04 points to 26,549.85, and the S&P 500 and the Dow Jones industrial average also finished higher, according to Baystreet.ca and Yahoo Finance. The U.S. Federal Reserve held its rate at 3.75 to four per cent, as widely expected. The Canadian dollar traded at about 71.5 U.S. cents, according to Baystreet.ca and Yahoo Finance. Our Tuesday close report and the guide to TSX holidays in 2026 have more background.

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This article is for information only and is not investment advice. Speak to a licensed adviser before making investment decisions.