TSX Closer: Index Falls Again as Base Metals, Healthcare and Financials Drag

04:26 PM EDT, 09/30/2026 (MT Newswires) -- The S&P/TSX Composite Index closed lower on Wednesday, falling for a third day as declines in base metals, healthcare and financial stocks outweighed gains in telecom and energy. The index fell by 224.40 points, or 0.6%, to 35,235.87 with mixed sectors. Base metals and healthcare led decliners, down 1.3% each, followed by financial and industrials that closed down 1.1% and 0.4%, respectively. Shares in telecom and energy closed up 1.4% and 0.6%, respectively. The Battery Metals Index, which includes companies listed both on the TSX and TSX Venture Exchange, jumped 0.3%. In commodities, West Texas Intermediate (WTI) and Brent crude rose on Wednesday as stalled US-Iran peace talks kept supply risks in focus. Gains came even as Gulf oil exports continued to recover and US crude inventories increased, with markets still focused on uncertainty surrounding Iranian sanctions and regional supply flows. November WTI crude oil contract settled up $1.04, or 1.2%, at $90.42 per barrel, while November Brent oil was last up $0.94, or 0.9%, at $103.53 per barrel. Meanwhile, December Comex gold futures rose 0.2%, or $7.70, to $4,187.40 per ounce at last look. In currencies, the US dollar edged 0.3% higher against the Canadian dollar, with USD/CAD at 1.4234 at last look. UBS Global Research said it expects the Bank of Canada to raise its policy rate by 25 basis points in October and again in January 2027, from a previous estimate for the BoC to stand pat this year. This reflects a shift in the BoC's assessment of inflation risks rather than a material change in the bank's economic outlook, said UBS in a note. The BoC is slated to hold its next policy meeting on Oct. 28. The BoC will have data to consider ahead of its policy decision, including the latest consumer price index report and BoC Business Outlook Survey, according to BMO Capital Markets in a note. In banking news, the Toronto-Dominion Bank (TD.TO, TD) said it intends to start a CA$10 billion new share buyback program, representing 3.74% of its 1.63-billion shares issued and outstanding as of Aug. 31. The buyback program is not to exceed 61-million shares and TD intends to complete the program by July 2027.