TSX extends slide as oil weakness drags energy shares lower
EWC•Canada’s S&P/TSX Composite fell 0.12% as lower oil prices and high bond yields weighed on sentiment, with energy shares down 1.5%. Financials and consumer discretionary shares limited losses.
1. Energy shares lead losses
The S&P/TSX Composite was down 0.12% at 35,663.77 points at 10:24 a.m. ET, putting it on track for a third consecutive session of declines. Brent crude fell more than 1%, while the energy sector dropped 1.5%. The U.S. 10-year Treasury yield was above 5%, and its Canadian counterpart hovered around 3.95%.
2. Other sectors and companies
Financials rose 0.8% and consumer discretionary shares gained 0.7%, limiting the index’s losses. Markets priced in a 65% chance of a Bank of Canada rate hike of at least 25 basis points in October. National Bank of Canada plans to buy back 10 million shares for up to C$2.25 billion from October 9, 2026, to October 8, 2027. Air Canada said it plans to buy back 27.6 million shares for C$800 million at C$29 apiece.
