TSX Closer: The Index Gains More Than 200 Points as Financial, Technology Stocks Rise

04:19 PM EDT, 10/21/2026 (MT Newswires) -- The S&P/TSX Composite Index closed higher on Wednesday, supported by gains in financial, technology and industrial stocks, while investors assessed new federal and provincial funding initiatives and mixed domestic economic data. The index closed up 217.03 points, or 0.6%, at 36,324.99, with most sectors advancing. Financial led the gains, jumping 1.4%, followed by information technology and industrials, which rose 0.8% and 0.7%, respectively. Shares in base metals and telecom declined 0.9% each. The Battery Metals Index, which includes companies listed both on the TSX and TSX Venture Exchange, dropped 1.7%. In commodities, West Texas Intermediate (WTI) and Brent crude prices were mixed on Wednesday as investors weighed renewed diplomatic efforts to ease tensions in the Middle East against persistent concerns over potential supply disruptions in the region. December WTI crude oil contract settled down $0.67, or 0.7%, at $97.15 per barrel, while December Brent oil was last seen up $0.79, or 0.7%, at $109.58 per barrel. December Comex gold futures rose 0.2%, or $8.40, to $4,151.00 per ounce at last look. In currencies, the US dollar edged lower 0.1% against the Canadian dollar, with USD/CAD at 1.4045 at last look. Canada and Ontario on Wednesday jointly announced nearly CA$9 billion in funding to strengthen the province's steel, automotive and critical minerals sectors, boost economic growth and push trade beyond the US. The Joint Steel Action Fund will receive CA$3.55 billion in federal funding and CA$1.67 billion from Ontario over five years to diversify steel production, support industries including defense, advanced manufacturing and energy infrastructure, according to a statement from the Prime Minister's Office. Ontario's automotive sector will receive CA$1.5 billion in federal funding over two years. Meanwhile, in other economic news, Canadian building construction investment edged up 0.1% month over month to CA$23.5 billion in August, as a 1.0% increase in non-residential investment offset a 0.3% decline in residential construction, Statistics Canada said Wednesday. On an annual basis, investment rose 7.9%. In constant 2023 dollars, building construction investment slipped 0.1% on the month to CA$21.2 billion but remained 4.7% higher year over year. Meanwhile, Canadian mortgage borrowing weakened further in August, signaling continued softness in the economy's most interest-rate sensitive sector as the Bank of Canada considers a potential rate hike, according to a note from BMO Capital Markets. Household mortgage debt grew by just 3.8% year over year, marking its slowest pace since the 2023-24 housing correction and, before that, the early 2000s, BMO said.