financetom
World
financetom
/
World
/
CANADA STOCKS-TSX posts biggest daily gain in a month, boosting April rally
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
CANADA STOCKS-TSX posts biggest daily gain in a month, boosting April rally
Apr 30, 2026 2:04 PM

* TSX ends up 1.9% at 33,964.33

* Bombardier jumps 20.6% after Q1 profit beat

* Canada's economy grew by 0.2% in February

* Tech adds 2.2%, financials end 2.1% higher

(Updates at market close)

By Fergal Smith

TORONTO, April 30 (Reuters) - Canada's main stock index

posted its biggest daily gain since the end of March on

Thursday, with industrial and technology shares leading a

broad-based move higher as stronger-than-expected corporate

earnings outweighed uncertainty related to the war in the Middle

East.

The Toronto Stock Exchange's S&P/TSX composite index

ended up 645.94 points, or 1.9%, at 33,964.33, marking

its highest closing level since April 20. For the month, the

index was up 3.65%, recouping much of March's decline.

"The rally is a combination of a recovery from the selloff

last month and improving sentiment about eventually the war will

end at some point or there will be some sort of resolution, but

I think more importantly it's earnings driven," said Stan Wong,

a portfolio manager at Scotia Wealth Management.

"When earnings are rising the market can absorb a lot of the

macro and geopolitical noise that's happening."

Iran said it would respond with "long and painful strikes"

on U.S. positions if Washington renewed attacks, and also

reasserted its control over the Strait of Hormuz, complicating

U.S. plans for a coalition to reopen the waterway.

"Canada is a little bit of a different set-up (than the U.S.

market) - it's more cyclical, as we know, and right now it's

working," Wong said.

Canada's economy grew by 0.2% in February from January,

while a preliminary estimate pointed to annualized growth of

1.7% for the first quarter, which would slightly eclipse the

Bank of Canada's 1.5% forecast.

Industrials rose 2.4%, with shares of Bombardier Inc ( BDRPF )

jumping 20.6% after the business jet maker beat Wall

Street estimates for first-quarter profit.

Technology added 2.2% and heavily weighted financials ended

2.1% higher.

The materials group, which includes metal mining

shares, was up 1.4% as a sharp decline for the U.S. dollar

gave gold and copper prices a boost.

Energy added 0.8%. The price of oil touched

a three-week high before settling 1.7% lower at $105.07 a

barrel.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Copyright 2023-2026 - www.financetom.com All Rights Reserved