Canada Stocks: TSX rebounds in calmer markets at start of new month
02/02/2026 21:36
TSX ends up 0.8% at 32,183.88 Financials add 1.7% Energy falls 1% as oil settles 4.7% lower Eldorado Gold tumbles 8.5% Updates at market close By Fergal Smith Feb 2 (Reuters) - Canada's main stock index rose on Monday as financials and consumer-related stocks moved higher, with the market recouping some of the previous session's steep losses. The S&P/TSX Composite Index .GSPTSE ended up 260.36 points, or 0.8%, at 32,183.88. On Friday, the index posted its biggest decline since April as precious metal prices tumbled. "It's feeling a lot calmer today than it did on Friday," said Greg Taylor, chief investment officer at PenderFund Capital Management. "It's the start of a new month and January was volatile." The TSX notched its ninth straight monthly gain in January despite Friday's setback, adding 0.7%. "I think there's still a lot of uncertainty heading into earnings season," Taylor said. "Everyone is going to be keyed in on the banks. That's going to be the big thing to get the guidance from the banks on the housing market, just the health of the consumer and the overall trends on capital markets." Scotiabank BNS.TO said it would support the establishment of a global defence bank known as the Defence, Security and Resilience Bank (DSRB), days after the Canadian government gave the proposal its backing. Its shares were up 1%, while the heavily weighted financials index .SPTTFS added 1.7%. Consumer staples GSPTTCS rose 2.7% and consumer discretionary .GSPTTCD ended 1.9% higher. Shares of apparel retailer Aritzia Inc ATZ.TO jumped 6.5%. Energy .SPTTEN was a drag, falling 1%. The price of oil CLc1 settled 4.7% lower on signs of de-escalating tensions between the United States and OPEC member Iran. Eldorado Gold ELD.TO said it would acquire Foran Mining FOM.TO in a deal valuing the copper-focused developer at about C$3.8 billion ($2.79 billion). Shares of Eldorado tumbled 8.5%. (Reporting by Fergal Smith in Toronto and Utkarsh Tushar Hathi in Bengaluru; Editing by Jonathan Ananda and Diane Craft) ((fergal.smith@thomsonreuters.com; +1 647 480 7446))