Banks and energy rose together in the first session after the Thanksgiving closure. Banks gained as Canadian 10-year yields eased, while energy led after the 2027 WTI contract set a twelfth straight record. The combination amounts to a bet that disruption around the Strait of Hormuz lifts oil prices without lifting Canadian inflation. The final point is a 3:55 p.m. ET reading, five minutes before the close.
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The gap between the two benchmarks widened from $2.91 on September 17 to $12.91 on October 12, then eased on October 13.
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Canadian yields drifted higher through August even though the Bank of Canada held its policy rate at 2.25% and had no decision to make during the month.
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Gold rallied and gold miner shares carried the TSX higher, while Brent ended the month close to where it began.
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Gold miners did most of the lifting as the index set eight record closes during the month, the last on August 25.
S&P/TSX Composite Daily Close Through August 2026
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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
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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
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