TSX Closer: Index Edges Lower as the Telecom and Energy Sectors Weaken

04:28 PM EDT, 09/29/2026 (MT Newswires) -- The S&P/TSX Composite Index closed lower on Tuesday as declines in telecom, energy and healthcare outweighed gains in information technology and utilities. The index closed lower 29.59 points, or 0.1%, to 35,460.27 with mixed sectors. Telecom led decliners, down 2.2%, followed by energy and healthcare that closed down 1.3% and 0.7%, respectively. Shares in information technology and utilities closed up 1.7% and 0.3%, respectively. The Battery Metals Index, which includes companies listed both on the TSX and TSX Venture Exchange, dropped 2.2%. In commodities, West Texas Intermediate (WTI) and Brent crude oil fell Tuesday as signs of recovering Middle East oil exports eased some supply concerns, including the resumption of loadings from Saudi Arabia's Yanbu terminal and increased flows through the kingdom's East-West pipeline. November WTI crude oil contract settled down $3.22, or 3.5%, at $89.38 per barrel, while November Brent oil was last down $2.96, or 2.8%, at $102.32 per barrel. Meanwhile, December Comex gold futures jumped 1.0%, or $40.00, to $4,208.40 per ounce at last look. In currencies, the US dollar edged 0.1% higheragainst the Canadian dollar, with USD/CAD at 1.4191 at last look. In economics news, Canada's preliminary gross domestic product rose 0.2% on the month in August, driven by gains in mining, quarrying and retail trade, after GDP remained essentially unchanged in July, while weaker oil and natural gas extraction partly offset the increase, Statistics Canada said Tuesday. July's GDP was in line with a consensus flat reading provided by a Bloomberg survey. Canada's economy is set for slower growth in Q3, according to economists on Tuesday. Tariffs introduced in late August are expected to put greater pressure on September activity and fourth-quarter growth, particularly by weakening exports and business investment. The US introduced new tariffs on certain Canadian goods from Aug. 22 after negotiations broke down between the two countries. "We expect these latest measures to reduce GDP by about half a percent over about a year, mostly through lower exports but with some spillovers to consumption," wrote KPMG Senior Economist Peter Shannon in a note. If the trade war persists, economic growth could slow to around 1% annualized as the economy shifts into a lower gear, according to Desjardins Group in a note. In corporate news, Bell Canada (BCE.TO, BCE) and US technology firm Cisco said Tuesday they signed an initial agreement to jointly develop a sovereign artificial intelligence infrastructure offering for Canadian customers.