S&P/TSX surges 250 points as energy and metals rally lifts Canadian markets

Resource stocks drove the Canadian benchmark sharply higher Tuesday, extending a broad-based recovery across North American equities after recent volatility.

By Handelsavisen Newsroom · Automated 2026-07-21 16:04 UTC · 1 min read

The S&P/TSX Composite Index climbed more than 250 points in midday trading on Tuesday, marking a decisive rebound for Canadian equities.

The rally was broad-based but anchored by strong performance in the energy and base metals sectors, which have been key drivers of the index's recent momentum.

This advance follows a period of stabilization for US tech stocks, which found footing after a recent slide, suggesting a rotation back into value and resource plays.

The surge in Toronto mirrored gains across major US indices, which also posted solid advances during the session.

The synchronized move indicates that investor sentiment has improved across North America, with capital flowing into cyclical assets.

This comes after the Nasdaq experienced significant volatility earlier in the month, dropping 2.2% as concerns over AI spending triggered a tech selloff. The current strength in resources suggests investors are diversifying away from pure tech exposure.

The mining sector, in particular, has been a consistent source of upside for the TSX.