TSX Closer: Index Turns Higher as Technology And Base Metals Gain

04:38 PM EDT, 10/05/2026 (MT Newswires) -- The S&P/TSX Composite Index gave up earlier losses to close slightly higher on Monday, as gains in information technology and base metals offset weakness in telecom and energy. Investors weighed lower oil prices, fresh domestic data and rate policy expectations for the Bank of Canada. The index closed up 15.90 points, or 0.05%, at 35,518.55. Information technology led advancers, up 1.4%, followed by base metals that closed up 1.0%. Shares in telecom and energy closed down 1.2% and 0.4%, respectively. In commodities, West Texas Intermediate (WTI) and Brent crude fell on Monday as rising Middle East exports and planned releases from G7 emergency reserves added to available supply. However, concerns about disruptions linked to the US-Iran conflict and attacks on regional energy infrastructure remained. November WTI crude oil contract settled down $1.68, or 1.8%, at $89.43 per barrel, while December Brent oil closed down $1.93, or 1.9%, at $100.32 per barrel. Whereas December Comex gold futures jumped 0.1%, or $4.70, to $4,167.00 per ounce at last look. In currencies, the US dollar edged up 0.08% against the Canadian dollar to an 18-month high at 1.4262 at last look. The Canadian dollar could gain support over time from stronger business investment, particularly as spending on energy, infrastructure, and technology accelerates in Canada, according to a note from Desjardins Group. Canadian lumber production in July fell 8.6% month-over-month from June to 3,546.4-thousand cubic meters and was down 6.7% from 12 months prior, Statistics Canada said in a Monday note. Meanwhile, Canada's September Labour Force Survey (LFS), due Friday, will provide the first full-month read on the impact of US Section 338 tariffs introduced on Aug. 22, though the hit should be limited by export diversification and government support, according to RBC Economics. Employment is forecast to rise by a modest 5,000 in September, keeping year-to-date job growth slightly positive, estimated the bank. KPMG Canada expects Canada's central bank to signal a December rate hike at its Oct. 28 meeting. It estimates a 25-basis-point Bank of Canada rate hike in December, which would take the overnight rate to 2.5%. In corporate news, Cenovus Energy (CVE.TO) agreed to acquire Athabasca Oil (ATH.TO) in a CA$5.7 billion cash-and-stock deal that would add about 45,000 barrels of oil equivalent per day of production. In stocks, Apotex Health (APTX.TO) closed down CA$0.09 at CA$31.08 after announcing that it closed an offering of CA$1.25 billion of senior unsecured notes in three series.