12:21 PM EDT, 10/06/2025 (MT Newswires) -- The Toronto Stock Exchange is up 105 points at midday with most sectors higher.

The best performers are energy (+1.4%) and miners (+0.8%), and info tech (+0.8%). Healthcare, down 1%, is the biggest decliner.

Tenaz Energy ( ATUUF ) has jumped 27% to $26.72, a record high, after reporting that it closed a US$244 million acquisition of a private company that holds interests in the Gateway to the Ems (GEMS) project on the boundary of the Dutch and German sectors of the North Sea.

BMO Economics in its morning note, said there are no data on Monday's Canadian docket. Later this week, the key releases include the merchandise trade balance for August (due Tuesday) and the Labour Force Survey for September (on Friday).

BMO's Shelly Kaushik notes the trade deficit is expected to widen to $6.0 billion from $4.9 billion in July. Lower energy prices will weigh on the value of exports, while a negative manufacturing flash points to weaker imports and non-energy exports.

BMO is looking for 5k jobs to be added, a modest increase following two months of significant losses totalling over 106k. Unfortunately, the return to job growth will likely not be enough to bring the unemployment rate down from the cycle high of 7.1%.

Meanwhile, Prime Minister Mark Carney hopes to find relief for Canada's steel and aluminum sectors during a meeting with U.S. President Donald Trump in Washington on Tuesday, according to a government source, CTV News is reporting. The trip marks Carney's second visit to Washington since his election in April, during which time tariffs on steel, aluminum and lumber have climbed significantly.

RBC noted the U.S. will apply 10% Section 232 tariffs to imports of softwood lumber. The tariffs will take effect on Oct. 14. RBC believes the tariffs will stack on top of existing softwood lumber duties applied to U.S. imports of Canadian lumber, which increased in August to a combined rate of 35.16%. RBC understands the tariffs will not apply to OSB. The bank also noted the U.S. will apply tariffs of 25% to imports of upholstered wooden products, kitchen cabinets and vanities, and parts imported for use in kitchen cabinets and vanities. These tariffs will rise in January 2026, except for countries with which the U.S. reaches an agreement that addresses the threatened impairment of national security posed by imports of wood products.