Canada Stocks: TSX rises on tech, energy strength as investors assess Middle East setback

Shopify

13/04/2026 15:59

Updates prices and details throughout, adds analyst comment in paragraph 6

TSX up 0.22% as energy, tech stocks gain

WTI crude near $105 a barrel

Shopify up 3.4%, tech index rises 2%

Secure Waste jumps 7.7% after $4.63 billion takeover deal

April 13 (Reuters) - Canada's main stock index rose on Monday, lifted by energy shares as oil prices jumped after the U.S. announced a blockade of Iranian ports following the failure of peace talks, while the technology sector also recorded gains.

At 10:40 a.m. ET, the Toronto Stock Exchange's S&P/TSX Composite Index .GSPTSE was up 0.22% at 33,772.43 points.

The U.S. military said it will begin a blockade of all maritime traffic entering or leaving Iran after weekend talks failed to result in a peace deal, while Tehran threatened to retaliate against the ports of its Gulf neighbors.

The energy subindex .SPTTEN was up 1.4% as oil prices surged 7% after talks collapsed, with futures for U.S. West Texas Intermediate crude CLc1 hovering near $105 a barrel.

Meanwhile, technology stocks .SPTTTK were up 2%, with e-commerce firm Shopify SHOP.TO gaining 3.4%.

While markets received a respite last week in the form of a ceasefire, the failure of negotiations has led to renewed volatility even as investors brace for corporate earnings.

Goldman Sachs was the first among U.S. banking giants to report its results this morning, with the lender's shares slipping 3.2% due to weakness in its fixed income, currencies, and commodities division.

"What we're looking for is for CEOs to come on and talk about the guidance. If the war drags on, and with higher oil prices, M&A activity could slow down for banks and weigh on profitability," said Michael Dehal, senior portfolio manager, Dehal Investment Partners at Raymond James.

Financials .SPTTFS, the heaviest-weighted sector on the Canadian benchmark index, gained 0.2%.

But seven of 10 sectors on the TSX were in the red in morning trade.

Consumer staples GSPTTCS led sectoral losses, declining 1.8%.

The gold index .SPTTGD fell 1.1% after bullion prices retreated as fears of war-driven inflation reduced expectations of interest-rate cuts by the U.S. Federal Reserve.

The materials sector .GSPTTMT, which includes metal miners, was down 0.5%.

Among individual movers, Secure Waste Infrastructure SES.TO jumped 7.7% after waste management company GFL Environmental GFL.TO agreed to buy the company in a C$6.4 billion ($4.63 billion) deal. GFL Environmental shares, however, dropped 7.5%.

(Reporting by Utkarsh Hathi in Bengaluru; Editing by Jonathan Ananda)

((utkarshtushar.hathi@thomsonreuters.com))