Canada Stocks: TSX heads for monthly gain as mining stocks rise, oil retreats

Bausch Health Companies

30/04/2026 16:09

TSX up 1.1%

Bombardier jumps after Q1 profit beat

Canada's economy grew by 0.2% in February

Oil retreats, gold gains on softer dollar

Updates prices and details throughout

By Tharuniyaa Lakshmi

April 30 (Reuters) - Canada's main stock index rose on Thursday and was on track for monthly gains as oil prices pulled back from four-year highs and mining shares climbed, with investors assessing corporate earnings and Middle East developments.

At 10:49 a.m. ET, the Toronto Stock Exchange's S&P/TSX composite index .GSPTSE was up 1.1% at 33,692.76 points. The benchmark index was set to log about a 3% gain this month, which would mark its 12th monthly rise in 13 months, following sharp losses in March when geopolitical concerns rattled markets.

The heavy-weight mining stocks .GSPTTMT rose 1.5%, tracking higher gold prices, which rose more than 2% on a softer U.S. dollar and easing oil prices. GOL/

Ten of 11 TSX sectors were trading in the green.

The energy sub‑index .SPTTEN slipped 0.3% and was the only sector in the red. Oil prices eased after pulling back from above $126 a barrel following an earlier spike linked to reports of potential U.S. military action against Iran. O/R

On the earnings front, Bombardier BBDb.TO jumped 10.7% to the top of the main index after the business jet maker beat estimates for first-quarter profit, helped by robust demand for its repair and maintenance services.

Bausch Health BHC.TO shot up 10.3% after the pharmaceutical firm's first-quarter results beat estimates, helping the healthcare sub-index .GSPTTHC gain 3.4% to lead gains.

"Strong corporate earnings are providing a key source of support for the TSX, allowing investors to largely look past geopolitical uncertainty," Angelo Kourkafas, senior global investment strategist at Edward Jones said.

"And we got some pretty solid GDP data, which potentially feeds into some of the expectations that the Bank of Canada may actually have to hike interest rates," the analyst added.

Canada's economy grew by 0.2% in February from January, matching analysts' expectations, as goods-producing industries drove gains for the second month in a row, Statistics Canada data showed.

Among other movers, Allied Properties REIT AP_u.TO fell 3.4% after the urban workspace landlord's first-quarter rental revenue fell on non‑renewals.

 (Reporting by Tharuniyaa Lakshmi in Bengaluru; Editing by Joyjeet Das)

 ((tharuniyaa@thomsonreuters.com))