TSX Closer: Index Closes Up 319 Points as Energy, Telecom Stocks Advance

04:23 PM EDT, 10/13/2026 (MT Newswires) -- The S&P/TSX Composite Index jumped more than 300 points on Tuesday, rising for a third-straight session amid strong gains in energy, telecom and technology stocks, while investors assessed the latest domestic economic data and the International Monetary Fund's growth outlook for Canada. The index closed up 319.36 points, or 0.9%, to 35,983.98 with mixed sectors. Energy led advancers, up 3.9%, followed by telecom and information technology that closed up 3.0% and 1.6%, respectively. Shares in base metals and healthcare closed down 2.6% and 1.4%, respectively. In stocks, Silver Tiger Metals (SLVR.TO) closed down CA$0.06 at CA$0.79 after announcing earlier in the day that it had raised CA$100.1 million through a bought-deal offering of units. In commodities, West Texas Intermediate (WTI) and Brent crude prices were mixed on Tuesday as prospects of increased diesel supplies from Russia weighed on oil markets, while attacks in Saudi Arabia and Yemen kept concerns over potential supply disruptions elevated. November WTI crude oil contract settled up $0.40, or 0.4%, to $94.14 per barrel, while December Brent oil was last seen down $0.64, or 0.6%, to $106.01 per barrel. December Comex gold futures dropped 0.1%, or $3.70, to $4,186.90 per ounce at last look. In currencies, the US dollar edged lower 0.5% against the Canadian dollar, with USD/CAD at 1.4216 at last look. The International Monetary Fund on Tuesday maintained its forecast for Canada's gross domestic product (GDP) growth at 1.1% for 2026 and 1.7% for 2027. On economic front, Canada's combined provincial deficit is forecast at CA$36.4 billion in fiscal year 2026-27, little changed from the previous year and equivalent to just over 1% of gross domestic product, according to BMO Capital Markets in a Tuesday note. Provinces continue to face rising healthcare and education costs while sustaining strong capital investment, with combined borrowing needs forecast at CA$138 billion in FY2026-27, near post-pandemic highs, said the bank. Meanwhile, fresh data from Statistics Canada showed that cross-border travel by Canadians continued to recover, although it remained well below levels recorded two years earlier. Canadian residents made 1.9 million return trips from the US by car and air in September, up 6.8% year over year and marking the sixth consecutive month of growth, Statistics Canada said Tuesday. However, automobile trips were down 31.1% and air travel was down 18.7% compared with September 2024. Travel to the US has declined amid tensions between Canada and the US over President Donald Trump's tariffs and repeated threats to Canadian sovereignty.