Canadian financials now make up 37% of the TSX composite, the largest share in eight years and up from 31% in March, as capital has rotated out of sectors most exposed to the Strait of Hormuz war. Since the conflict began in late February, financial stocks have gained 22% while materials stocks, which include most gold miners, have fallen 25% despite a partial rebound this past week. The Big Six banks now trade at roughly 15 times forward earnings, the widest premium over their US peers since 2010.
This chart is presented for general informational purposes only and does not constitute financial, investment, tax, or legal advice. Figures reflect the source and period indicated and may no longer be current.
Related charts
WTI crude jumped to $77.83 a barrel shortly after 5 a.m.
WTI Crude Slips Back to $75 After Thursday's Pre-Dawn Spike
August 6, 2026
View chart & download
The S&P/TSX Composite closed July at 35,226, up 1.06% for the month, a modest headline figure that conceals sharp intra-month swings.
S&P/TSX Composite closes July up 1.06% after a volatile month
July 31, 2026
View chart & download
Brent and WTI crude both surged in July, with WTI ending the month at $85.47, up 23.0%, after round-tripping from a five-month low near $68.74.
WTI and Brent crude surge in July as the Iran ceasefire collapses
July 31, 2026
View chart & download
The record close was carried almost entirely by financials and materials as bank earnings season opened strong, with Scotiabank posting a…
The TSX Hit a Record High Tuesday. Only Two Sectors Actually Showed Up.
August 26, 2026
View chart & download
Gold, oil, the Canadian dollar, the TSX and bond yields posted mixed moves Tuesday afternoon even as tensions in the Strait of Hormuz…
Cross-Asset Scorecard as Hormuz Escalates
August 18, 2026
View chart & download
Gold spot fell to $4,367 an ounce Tuesday, down 1.2% from its intraday high, even as a genuine escalation in the Strait of Hormuz might…
Gold Falls as Treasury Yields Hit a 19-Year High
August 18, 2026
View chart & download