Canadian Stocks Head For Best Year Since 2009, Led By Energy
- The benchmark is poised for a record positive net change
- S&P/TSX underperformed the S&P 500 by five percentage points
The Toronto Stock Exchange in the city’s financial district.
Photographer: Cole Burston/BloombergThis article is for subscribers only.
Canadian stocks are headed for their best year in over a decade amid a rebound in oil prices and strength in the country’s banking sector.
The S&P/TSX Composite Index is up 22% so far this year, its best year since a roughly 31% rise in 2009. The benchmark was buoyed by a resurgence in energy stocks, which had underperformed for several years but rebounded in 2021 along with crude prices as demand bounced back from the pandemic.