TSX Closer: The Index Closes Higher as Tech, Base Metals and Financials Gain

04:24 PM EDT, 09/21/2026 (MT Newswires) -- The S&P/TSX Composite Index closed higher on Monday as gains in technology, base metals and financial stocks outweighed weakness in energy and telecom shares, while investors weighed fresh US-Canada trade tensions and comments from Bank of Canada Governor Tiff Macklem on the economic risks from tariffs. The index closed up 202.75 points, or 0.6%, at 36,009.40 with mixed sectors. Information Technology led advancers, up 3.0%, followed by base metals and financial that closed up 1.6% and 1.4%, respectively. Shares in energy and telecom closed down 2.5% and 1%, respectively. The Battery Metals Index, which includes companies listed both on the TSX and TSX Venture Exchange, jumped 1.0%. In commodities, West Texas Intermediate (WTI) and Brent crude fell on Monday as hopes for diplomatic progress in the US-Iran conflict and signs of recovering Saudi oil shipments eased some concerns about supply disruptions. Saudi Aramco has reportedly increased exports through the Strait of Hormuz after disruptions to its East-West pipeline and shipments from Yanbu, offsetting continued geopolitical risks from Houthi attacks in the region. October WTI crude oil contract settled down $4.52, or 4.5%, at $95.78 per barrel, while November Brent oil was last seen down $3.59, or 3.5%, at $100.28 per barrel. Meanwhile, December Comex gold futures dropped 0.9%, or $41.00, to $4,383.90 per ounce at last look. In currencies, the US dollar edged higher 0.4% against the Canadian dollar, with USD/CAD at 1.4037 at last look. Amid escalating trade tensions between the United States and Canada, US President Trump said Monday Washington is pursuing a major agreement to buy potash from Belarus, potentially reducing its reliance on Canadian supply. "The United States is working on a massive Deal with respect to the purchase of Potash from Belarus. The pricing would be for substantially less than we are currently paying to Canada, very good news for our Farmers and Ranchers," Trump wrote on Truth Social. Meanwhile Bank of Canada Governor Tiff Macklem on Monday warned that shifting US trade policies are clouding Canada's economic outlook and risk undermining some of the gains made in recent months. In prepared remarks for a speech in Halifax, Macklem said the changing trade picture could cause businesses to delay investment and hiring decisions, the Canadian Press reported. He said economic growth could slow to less than 1% in the fourth quarter if the new US tariffs stay in place, roughly half the pace otherwise expected.