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CANADA STOCKS-TSX climbs on energy strength as oil jumps after renewed Middle East worries
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CANADA STOCKS-TSX climbs on energy strength as oil jumps after renewed Middle East worries
May 21, 2026 8:15 AM

(Updates prices and details throughout)

* TSX up 0.1%, energy index rises 1.3%

* Oil jumps more than 2%, gold slips

* Lightspeed falls to bottom of index after profit miss

By Tharuniyaa Lakshmi

May 21 (Reuters) - Canada's main stock index edged

higher on Thursday as energy stocks were lifted by rising oil

prices, after a Reuters report on Tehran's hard stance on

uranium stockpiles dampened hopes for a Middle East peace deal.

At 10:21 a.m. ET, the Toronto Stock Exchange's S&P/TSX

composite index was up 0.1% at 34,214.93 points.

* Iran's Supreme Leader has issued a directive that the

country's near-weapons-grade uranium should not be sent abroad,

two senior Iranian sources said, hardening Tehran's stance on

one of the main U.S. demands in ongoing negotiations.

* The energy sub-index led gains, up 1.3%, as oil

prices rose more than 2% following the report.

* Heavyweight mining stocks were down 0.8% after

gold prices fell, with Perpetua Resources, G Mining

Ventures ( GMINF ) and Discovery Silver ( DSVSF ) falling 3.4% to

4.2% each.

* "Until there's a resolution, markets are likely to

continue tracking headlines around the conflict. But we're still

holding our course because Canada remains the cleanest commodity

play in the Western world," said Corbin Footitt, portfolio

manager at Verecan Capital Management Inc.

* The commodity-heavy TSX has largely traded sideways in May

after rebounding sharply from war-driven lows in March. It

remains less than 1% below its March 2 peak.

* "If oil and gold stay where they are, then the TSX is

fairly priced and isn't overheated. But if we see oil and gold

slip, then we could also see movements in TSX downwards,"

Footitt added.

* Five out of 10 sectors in the TSX were in the red. The

index had posted its biggest advance in nearly three weeks on

Wednesday.

* Canadian bond yields also fell, tracking moves in U.S.

Treasuries. Canada's 10-year was down 12.4 basis

points at 3.580%, extending its pullback from a two-year high of

3.744% reached on Tuesday.

* Meanwhile, Lightspeed fell 7.9% after the

commerce platform's fourth-quarter profit missed estimates.

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