S&P/ TSX Composite rebounds 332.75 points to 35,952.78 in early afternoon trading
Published on 11/02/2026 at 18:47 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWSTSX rebounds in early November trading
- The S&P/TSX Composite stood at 35,952.78 points at 13:43 GMT-3 on November 2, up 332.75 points.
- Materials and industrial stocks led the advance, while energy shares lagged as crude prices fell sharply.
- Investors were also watching renewed US-Iran talks, Canada-US trade discussions, the US midterm elections and Canadian manufacturing data.
The S&P/TSX Composite recovered part of Friday's sharp decline on Monday, November 2, as gains in materials and industrial stocks lifted Canada's benchmark during the Toronto trading session. At 13:43 GMT-3, corresponding to 17:43 Berlin time, the index stood at 35,952.78 points, up 332.75 points on the session, according to Baystreet.ca.
Materials and industrials lead recovery
The advance followed a 629-point drop on Friday, when technology and materials shares came under heavy selling pressure. The index remained below the previous session's close of 35,620.03, but the intraday rebound reduced part of that loss.
The Canadian Press reported earlier that strength in base-metal and industrial stocks had pushed the index more than 300 points higher. Baystreet.ca said gold stocks gained 3.4%, materials stocks rose 3.1% and industrial stocks added 2.5%. Air Canada and Boyd Group Services were among the industrial names showing notable gains in that account.
Oil weakness weighs on energy
The recovery was uneven across sectors. Energy stocks were the sole declining subgroup in the Baystreet.ca account, falling 3.2%, as crude prices dropped sharply. The market response reflected hopes that renewed US-Iran talks could reduce risks to oil supplies in the Middle East. Lower oil prices also eased some inflation concerns, while gold prices rebounded after their steep decline at the end of the previous week.
The Canadian Press reported December crude futures down 6.96 US dollars at 97.16 US dollars per barrel and December gold futures up 70.50 US dollars at 3,969.40 US dollars an ounce at the time of its late-morning update. These commodity moves provided a supportive backdrop for materials stocks but were a headwind for energy shares.
Investors await political and economic signals
Market participants were also assessing reports of constructive Canada-US trade discussions and preparing for Tuesday's US midterm elections. Canadian manufacturing data added a domestic caution signal: the S&P Global Canada Manufacturing PMI fell to 49.6 in October from 51.5 in September, indicating contraction for the first time in 2026, according to Baystreet.ca.
The intraday move therefore represented a broad recovery from Friday's sell-off rather than a uniform improvement across the index. The direction of commodities, developments in Middle East diplomacy, trade negotiations and the continuing earnings season remained key variables for the remainder of the session. Weitere Berichte zum Zielindex finden Sie auf der S&P/TSX-Composite-Themenseite.
