2026.03.2320:07:59UTC+00TSX Starts the Week Strong

The S&P/TSX Composite Index advanced 1.8% to close at 31,884 on Monday, as easing geopolitical tensions in the Middle East triggered a sharp rotation back into risk assets. The reversal came on the heels of President Trump’s announcement of a five-day pause on planned strikes against Iranian energy infrastructure, a decision that promptly deflated the recent “war premium” in oil and drove global crude benchmarks lower.

After four weeks dominated by stagflation fears, the relief rally buoyed credit-sensitive sectors, with Bank of Montreal and CIBC each gaining more than 2.4% as inflation concerns receded. Technology and growth stocks also firmed, led by a 3.6% rise in Shopify and a 6.6% surge in Celestica. In the materials space, Teck Resources and Lundin Mining advanced as recession worries eased.

By contrast, the pullback in crude prices weighed on the energy sector, where majors such as Canadian Natural Resources and Cenovus Energy fell at least 1.4%.