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CANADA STOCKS-TSX notches biggest weekly gain since November as oil soars
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CANADA STOCKS-TSX notches biggest weekly gain since November as oil soars
Apr 2, 2026 2:03 PM

(Updates at market close)

* TSX ends up 0.5% at 33,108.22

* For the week, the index gains 3.6%

* Energy adds 2% as oil price jumps

* Utilities was up 1%

By Fergal Smith

April 2 (Reuters) - Canada's main stock index added to

its weekly gain on Thursday, as a jump in oil prices on fading

hopes that the Iran war would soon end boosted energy shares.

The Toronto Stock Exchange's S&P/TSX Composite Index

ended up 150.27 points, or 0.5%, at 33,108.22, posting

its highest closing level since March 11.

For the holiday-shortened week, the TSX was up 3.6%, which

was its biggest weekly gain since November. The index is set to

be closed on Friday in observance of Good Friday.

The price of oil settled 11.4% higher at $111.54 a barrel

in volatile trading, as traders worried about prolonged

disruptions to oil supply the day after U.S. President Donald

Trump said the United States would continue attacks on Iran.

"War news is driving everything," said Colin Cieszynski,

chief market strategist at SIA Wealth Management. "We are seeing

a little bit of defense and a lot of interest in the resource

sectors ongoing.

Domestic data had little impact. Canada's trade deficit widened

to C$5.74 billion ($4.12 billion) in February from an upwardly

revised C$4.18 billion in the prior month as both imports and

exports climbed.

Energy gained 2%, lifting its gains since the

start of the year to 38.8%.

Utilities, which is considered a defensive play,

was up 1%.

Technology added 1.1% and heavily weighted financials edged

0.4% higher.

Just two of 10 major sectors ended lower, including

materials. It dipped 0.5% as the price of gold fell

1.9%, giving back some of its gains in recent days.

Shares of Rogers Communications ( RCIAF ) lost 7.9% after TD

Cowen cut its rating and price target on the stock.

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