CANADA STOCKS-TSX rises as investors welcome British Columbia election result

By Reuters News20:28 (UTC), 26 October 2026 Updated

By Fergal Smith

TORONTO, Oct 26 (Reuters) - Canada's main stock index rebounded on Monday, led by financial and resource shares, after the result of British Columbia's provincial election potentially raised prospects for oil and gas companies.

The S&P/TSX Composite Index .GSPTSE ended up 155.98 points, or 0.4%, at 35,944.16, after posting on Friday its lowest closing level since October 14.

The opposition Conservative Party won an election in the province of British Columbia for the first time in nearly 100 years, promising to ramp up liquefied natural gas production.
"People are talking about the BC elections," said Barry Schwartz, chief investment officer at Baskin Wealth Management. "For oil and gas and construction companies, it's directionally positive."
The energy sector .SPTTEN, which includes a number of companies with a market capitalization greater than C$100 billion ($71.34 billion), such as Canadian Natural Resources CNQ.TO and Suncor Energy SU.TO, rose 0.4%.
US crude oil futures settled 1.5% lower but remained elevated at $101.76 a barrel.
"The longer oil stays at these levels, you kind of have to own a CNQ or Suncor," Schwartz said.
The materials group .GSPTTMT, which includes metal mining shares, was up 0.7%. Gold rebounded from the previous session's more than three-month low as the drop in oil tempered inflation concerns ahead of a US Federal Reserve policy decision on Wednesday.
Heavily weighted financials .SPTTFS rose 0.8% and industrials .GSPTTIN ended 0.5% higher.
CAE CAE.TO said it will sell Flightscape, its airline operations software business, to fellow global aviation technology firm SITA in a deal valued at $500 million, including debt. Shares of CAE rose 4.6%.
Algoma Steel ASTL.TO ended 2.6% higher. The United States and Canada are working on a deal to ease US tariffs on Canadian steel and autos, two US and four Canadian sources said.
Five of the 10 major sectors ended lower, including consumer discretionary .GSPTTCD. It lost 0.6%, with shares of clothing retailer Aritzia ATZ.TO down 2.3%.

($1 = 1.4018 Canadian dollars)