04:11 PM EDT, 04/06/2026 (MT Newswires) -- The resources heavy Toronto Stock Exchange was up Monday for a fourth successive session, giving total gains of 1,300-plus points in that time, buoyed by improved commodity prices and with Rosenberg Research both "constructive" on commodities as an asset class and seeing value oriented sectors round off the top of the sector rankings in both the U.S. and Canada.

Today the TSX was up points or 73.75 points or 0.2% at 33,181.97, even as no sector rose by even 1% while the Battery Metals Index lost 1.2% and Telecom was down 1%. According to Dow Jones Market Data, FactSet the TSX going in to Monday's session was year-to-date up 1,395.46 points or 4.40%.

On equity models, Rosenberg Research noted last month's 'Strategizer', its monthly guidebook for active investors, coincided with the start of the war in Iran, and "at the time, the pre-war data led the asset allocation tool to marginally peel off from the prior month's maximum risk-off allocation". Its report for April, reflective of the first month of war-time data, has led to a step-up in the model's risk-on signal; "a reflection of 'Strategizer's' contrarian nature as global financial markets broadly sold-off in March". Its asset allocation tool points to neutral exposures versus the benchmark, further dialing back the risk-off tone: equities (60%; +15 points versus last month), fixed-income (35%; -10 points from last month), and cash (5%; -5 points compared to the last edition).

On the Canadian equity scorecard, the research noted it soared by nearly +20 points to 29.6 from "extremely" low levels. It is the first score reading in "neutral" territory since May 2025. It said the primary driver contributing to this month's scorecard expansion was a "notable" deterioration of the technicals subcomponents, falling from a near-90th percentile reading to about 30th percentile. Valuations are relatively less expensive versus the index's history following March's sell-off but remain at elevated levels relative to the historical average (above 80th percentile; forward P/E sitting around 16.0x, off the 17.5x peak in early March), it added. The top sector rankings for Canada are as follows: Materials (#1), Industrials (#2), Real Estate (tied #3), and Consumer Discretionary (tied #3), the research noted.

According to the research, Strategizer's commodity model was the only model, other than that of the U.S. dollar, to post a decline this month, dropping -6 points to stand at its lowest level since last September, at 61.0. But, it said, the score remains on the upper half of the 'neutral' range, as it has since July 2023. "Overall, Strategizer is constructive on the asset class, and has

been for some time now." It said the deterioration in score was driven by more crowded positioning. On aggregate, it added, the model is characterized by neutral fundamentals, technicals, and positioning, and by historically depressed valuation and sentiment scores. The top individual commodities rankings are as follows: aluminum (#1), crude oil (#2), sugar (#3), heating oil (#4), and RBOB gasoline (#5).

Meanwhile, the research noted the gold model reached a low of 6.8 in October of last year; the "dismal score" was followed by four months of scores fluctuating throughout the teens. As of now, it also noted, the model had broken back into "neutral" terrain for the first time since last summer, at 36.0. It said gold has acted inversely to expectations throughout the war, falling -11.6% in March, in its worst monthly performance since October 2008. The typical "safe-haven" status of the shiny yellow metal has been overshadowed by investors selling their winners to cover losses in other parts of the markets; not dissimilar from what happened following the collapse of Lehman in September 2008, it added.

Of commodities today, gold was steady Monday as the dollar eased following reports the United States is offering Iran a 45-day ceasefire in its war against the Persian Gulf country. Gold for May delivery was up $3.10 to US$4,682.80 per ounce.

Also, West Texas Intermediate crude oil closed higher as Iran rejected the U.S. offer in exchange for opening the Strait of Hormuz and beginning talks for a permanent end to the conflict. WTI crude oil for May delivery closed up $0.87 to settle at US$112.41 per barrel, while June Brent oil was last seen up $1.81 to US$109.98.