Written By
Nick Raffoul
Nick Raffoul is the Founder and Lead Analyst at Best Canadian Stocks. He graduated with a degree in Business Administration, has over a decade of writing experience, and grew his personal portfolio 153% from 2020 to 2024.
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The S&P/TSX Composite Index closed Friday at around 34,980, up 0.4% on the session and hovering near record territory as the first half of 2026 comes to a close. Data as of June 26, 2026.
With just two trading sessions left before Canada Day—Tuesday, June 30 marks the final session of H1 and Q2—Canadian investors are looking at a solid first half. The TSX is up roughly 10% on the year, driven by strength in energy, financials, and materials.
Here’s where things stand, what moved Friday’s market, and what’s ahead as we enter the shortened trading week.
The First-Half Scorecard
Canadian stocks delivered steady gains through the first six months of 2026. The TSX hit an intraday and closing record near 35,390 on June 16 before easing slightly into the final weeks of June.
Sector performance tells the story. Year-to-date through late May, energy stocks led the way with a gain of 27.4%, followed by utilities at 13.5%, financials at 11.8%, and materials at 11.0%.
Energy’s outperformance was fueled by geopolitical volatility and swings in crude oil prices (oil recently slipped below US$70 a barrel). Financials benefited from resilient bank earnings despite a challenging interest rate environment. Materials, particularly gold miners, found support from safe-haven demand and a weaker U.S. dollar through much of the spring.
May 2026 closed at a record monthly high, up 2.37% for the month—a strong finish to the second quarter.
Friday’s Movers
Mining, gold, and technology led Friday’s session. Shopify climbed 4.6% following its Spring 2026 product rollout announcement. Constellation Software added 1.9%.
Gold stocks strengthened on weaker U.S. dollar sentiment and easing expectations of further U.S. rate hikes after Friday’s PCE inflation data. Barrick advanced 1.6%, while Franco-Nevada gained 2.3%.
Energy and financials lagged. Canadian Natural Resources and Suncor each dropped more than 1% as oil prices eased—more tankers exited the Strait of Hormuz, lowering supply fears. RBC, TD, and BMO each slipped roughly 0.5% as bond yields moved higher.
Celestica fell 6.6%, tracking weakness in U.S. technology and semiconductor names.
The Week Ahead
The TSX will be closed Wednesday, July 1 for Canada Day. Markets are open Monday, June 29 and Tuesday, June 30—the last trading session of the first half—then reopen Thursday, July 2.
It’s a shortened week, and holiday-shortened weeks often see thinner liquidity and choppier intraday moves. That’s a structural observation, not a prediction.
Strategist sentiment late last week was most positive toward precious metals and mining stocks, as well as consumer discretionary names. Broader analyst outlooks expect Canadian equities to continue climbing gradually through the second half of 2026, supported by commodities, dividend-paying stocks, financials, and infrastructure themes. Financials remain the largest TSX sector weighting.
These are outlooks and opinions, not certainties. As always, our view is that the data will decide what happens next.
What It Means for Investors
The first half of 2026 rewarded investors who stayed diversified and patient. Energy, financials, and materials—three of the largest TSX sectors—all delivered double-digit gains. That’s a reminder that Canadian equities benefit from commodity exposure and strong dividend payers, even when markets face volatility.
Tuesday’s close will draw a line under H1. Whether you’re rebalancing, planning RRSP contributions, or evaluating new positions, the first week of July is a natural checkpoint.
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Disclaimer: The content on bestcanadianstocks.ca is for informational and entertainment purposes only and does not constitute financial advice. Past performance is not indicative of future results. Always consult a qualified financial advisor before making investment decisions.
Written By
Nick Raffoul
Nick Raffoul is the Founder and Lead Analyst at Best Canadian Stocks. He holds a degree in Business Administration and has over a decade of writing experience. Nick began investing just before the COVID-19 market crash in March 2020, growing his personal portfolio 153% by 2024. In 2022, he founded Best Canadian Stocks to make data-driven investing accessible to all Canadians. His goal is to help all of his readers achieve financial freedom, maximize their spending power, and reach their financial goals. Whether you're maximizing your TFSA, building an RRSP to save for retirement, or looking to buy your first stock, Nick has your back. His work covers Canadian equities, dividend investing, tax-advantaged accounts, and personal finance.
