08.09.202513:45:31UTC+00TSX Struggles for Direction

The S&P/TSX Composite index experienced fluctuations, hovering around the 29,050 mark on Monday, as gains in the commodity sector were met by losses in the financial and industrial sectors. Energy companies led the upturn, propelled by a recovery in oil prices following OPEC+'s announcement of a production increase that fell short of expectations, and fresh concerns regarding potential US sanctions on Russian oil. Mining stocks also showed strength, with Agnico Eagle gaining approximately 1%. On the downside, Brookfield, Thomson Reuters, and Canadian National Railway saw declines, each dropping between 1.3% and 1.8%. In other developments, Air Canada's CUPE flight attendants overwhelmingly rejected a wage proposal, with 99% voting against it on a 94.6% turnout. This result heightens the possibility of renewed disruptions and will now move towards mediation or arbitration following a governmental back-to-work mandate. The situation has already impacted operations and contributed to Air Canada's stock decrease, which has fallen about 14% so far this year.