CANADA STOCKS-Energy stocks weigh on TSX as oil prices ease
Reuters2026/10/05 14:25By Avinash P Oct 5 (Reuters) - Canada's resource-heavy main stock index fell on Monday as lower oil prices weighed on energy stocks, though gains in technology shares limited losses, while investors parsed economic data and reassessed interest rate expectations. The Toronto Stock Exchange's S&P/TSX Composite Index .GSPTSE was down 0.2% at 35,441.80 points by 10:10 am ET, after rising nearly 1% on Friday. Lower oil prices weighed on the energy sector .SPTTEN, which was down 0.9% on Monday, leading sector-wise losses The mining linked-materials sector .GSPTTMT fell 0.8%, while the information technology index .SPTTTK gained 1.9% Investors recalculated their monetary policy expectations after soft US jobs data last week eased fears of an imminent Fed rate increase. Traders are currently pricing in a roughly 20% chance of a rate hike at the U.S. central bank's meeting later this month, according to CME's FedWatch tool. While odds of an October rate hike by the Bank of Canada have receded, investors still expect the central bank to raise lending rates at least once before the end of 2026, according to LSEG-compiled data "The question is whether it is simply a 25-basis-point move or the beginning of a broader rate-hike cycle... that is what is causing some angst and why we have seen a little volatility in the Canadian market lately," said Shiraz Ahmed, founder and CEO of Sartorial Wealth Among individual movers, Canada's Suncor Energy SU.TO fell 1.2% after it agreed to sell its interests in three offshore oil assets to Ithaca Energy ITH.L for C$1.2 billion ($841.69 million) Cenovus Energy CVE.TO fell 4.1% after saying it would acquire Athabasca Oil ATH.TO in a cash-and-stock transaction valued at C$5.7 billion ($4.00 billion). Athabasca Oil jumped more than 15% On the data front, Canada's services economy contracted for a fourth straight month in September amid economic uncertainty, S&P Global's Canada services PMI data showed. (Reporting by Avinash P in Bengaluru; Editing by Tasim Zahid) ((Avinash.P@thomsonreuters.com
By Avinash P
Oct 5 (Reuters) - Canada's resource-heavy main stock index fell on Monday as lower oil prices weighed on energy stocks, though gains in technology shares limited losses, while investors parsed economic data and reassessed interest rate expectations.
The Toronto Stock Exchange's S&P/TSX Composite Index .GSPTSE was down 0.2% at 35,441.80 points by 10:10 am ET, after rising nearly 1% on Friday.
Lower oil prices weighed on the energy sector .SPTTEN, which was down 0.9% on Monday, leading sector-wise losses
The mining linked-materials sector .GSPTTMT fell 0.8%, while the information technology index .SPTTTK gained 1.9%
Investors recalculated their monetary policy expectations after soft US jobs data last week eased fears of an imminent Fed rate increase. Traders are currently pricing in a roughly 20% chance of a rate hike at the U.S. central bank's meeting later this month, according to CME's FedWatch tool.
While odds of an October rate hike by the Bank of Canada have receded, investors still expect the central bank to raise lending rates at least once before the end of 2026, according to LSEG-compiled data
"The question is whether it is simply a 25-basis-point move or the beginning of a broader rate-hike cycle... that is what is causing some angst and why we have seen a little volatility in the Canadian market lately," said Shiraz Ahmed, founder and CEO of Sartorial Wealth
Among individual movers, Canada's Suncor Energy SU.TO fell 1.2% after it agreed to sell its interests in three offshore oil assets to Ithaca Energy ITH.L for C$1.2 billion ($841.69 million)
Cenovus Energy CVE.TO fell 4.1% after saying it would acquire Athabasca Oil ATH.TO in a cash-and-stock transaction valued at C$5.7 billion ($4.00 billion). Athabasca Oil jumped more than 15%
On the data front, Canada's services economy contracted for a fourth straight month in September amid economic uncertainty, S&P Global's Canada services PMI data showed.
(Reporting by Avinash P in Bengaluru; Editing by Tasim Zahid)
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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BUZZ-Genmab shares hit a three-year high as blood cancer drug combination study results are released
October 6 - Genmab (GMAB.CO) shares rose about 8%, reaching a three-year high and leading the STOXX 600 index (.STOXX). Genmab and AbbVie ABBV.N announced on Monday (link) that their combination therapy for blood cancer reduced the risk of disease progression and death in a late-stage clinical trial. The two companies stated that, compared to R-CHOP regimen alone, the combination therapy reduced the risk of disease progression or death in newly diagnosed patients by 51%. Analysts at Jefferies described this result as "impressive". The brokerage added that the data "easily met the bar for success" and exceeded investor expectations of approximately 40%. TD Cowen stated that the data establishes the combination therapy as a potential new standard of care, with peak market potential expected to exceed $3 billion. (For convenience of non-English speakers, Reuters has automated this report into several other languages. Automated translations may contain errors or lack necessary context, and Reuters makes no guarantees as to their accuracy. The automated translation is provided for reader convenience, and Reuters bears no responsibility for any damages or losses resulting from use of the automated translation.)
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