Oct 5, 2026 12:31pm ET
The S&P/TSX Composite was down 0.09% at 35,469.80 in midday trade. Cenovus agreed to buy Athabasca Oil for $12.00 per share, an implied enterprise value of $5.7 billion, while Suncor signed a deal with Ithaca Energy to sell its interests in several Newfoundland offshore oil projects. Oil was off 1.04% at US$90.16 so far today, with shipping data showing Gulf exports above pre-war levels and the G7 announcing a 100 million barrel stock release. Canada's services PMI showed a fourth straight monthly contraction in September, while the US ISM services reading was 54.9%.
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Oct 5, 2026 4:31pm ET
The S&P/TSX Composite closed at 35,518.55, up 15.90 points, with technology stocks helping lift the index. Energy dealmaking dominated the news: Cenovus agreed to buy Athabasca Oil in a $5.7 billion cash-and-stock deal, and Suncor agreed to sell its East Coast offshore stakes to Ithaca Energy. Oil was at US$89.38 in late-afternoon trading, down 1.90%. Separately, seven major producers agreed to keep November production steady. The Canadian dollar traded at US$0.70113, down 0.09%. On Wall Street, the Nasdaq Composite closed up 1.02% and the S&P 500 gained 0.66%.
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Written by AI based upon public market data and company news releases, and checked automatically before publishing. Company statements are reported as the companies made them. Not investment advice.
