14:52:02 EST Mon 08 Dec 2025
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Globe says TSX close to record-breaking year

2025-12-08 07:40 ET - In the News

The Globe and Mail reports in its Saturday edition that Canadian stocks are on track for their best year in modern history. The Globe's Tim Shufelt writes that with less than a month to go, the S&P/TSX Composite Index has returned 30.4 per cent including dividends, putting 2025 close to the best year on record, 2009's 35.1 per cent. This is impressive given the country's trade war, productivity crisis and housing slump. It is reasonable to question how much more we can expect from this rally, as 2025 is unlikely to repeat itself next year. Gold stocks and the Big Six banks have driven the Canadian stock market to record levels this year. Bank stocks are at their highest in over a decade, while gold miners surged due to a historic rise in bullion prices. The energy sector may take over heavy lifting in 2026, with changing attitudes toward Canadian oil and gas. The uncertainty in Canada's economic future has accelerated the development of conventional energy, leading to major projects, including a new oil pipeline to the West Coast as per a memorandum of understanding between Ottawa and Alberta. National Bank economist Stefane Marion says, "We view this agreement as foundational to making Canada investable again."

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