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Canadian Market Up Marginally; Energy, Materials Stocks Move Higher

May 11, 2026 — 02:03 pm EDT

Written by

RTTNews.com for

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(RTTNews) - The Canadian market is up marginally around mid-afternoon on Monday thanks to strong gains in energy and materials stocks, which are riding on firm commodity prices. Technology, consumer staples, industrials and consumer discretionary stocks are mostly down, limiting market's upside.

After U.S. President Donald Trump rejected Iran's latest proposal to end the conflict, Iran said it would continue using both "the weapon of diplomacy" and military resistance whenever it considers necessary to protect national interests.

Iranian Foreign Ministry spokesperson Esmaeil Baqaei said the U.S. has committed a breach of trust in every diplomatic process it has participated in over the past 20 years.

The benchmark S&P/TSX Composite Index was up 86.45 points or 0.25% at 34,164.21 a little while ago.

Barrick Mining Corporation climbed nearly 9% after reporting stronger than expected quarterly earnings. Cronos Group (up 5.8%) also moved up sharply on upbeat earnings update.

Trican Well Service, Ensign Energy Services, First Majestic Silver, Silvercorp Metals, Seabridge Gold, Methanex, NexGen Energy, Chorus Aviation, Novagold Resources, Precision Drilling Corporation and Nutrien gained 4%-7%.

Pan American Silver Corp., Wesdome Gold Mines, Lundin Mining, Vermilion Energy, Equinox Gold, Osisko Gold Royalties, Ero Copper, Cameco, Wheaton Precious Metals, Imperial Oil, Cenovus Energy, Whitecap Resources and Hudbay Minerals moved up 2%-4%.

Cineplex dropped nearly 10%. Interfor, Kinaxis, Constellation Software, Shopify, Canada Goose Holdings, Lightspeed Commerce, BlackBerry, Bausch Health Companies, Descartes Systems, Extendicare and Element Financial Services lost 4%-6%.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.