Highlights

  • TSX opens modestly higher as financials regain traction on December 02, 2025.
  • Bank of Nova Scotia results and Laurentian Bank takeover shape early sentiment.
  • Tech, REITs and real estate stocks continue to show pressure after Monday’s drop.

Canada’s major equity benchmark opened firmer on Tuesday as market participants shifted back into financial names after Monday’s technology-driven pullback. The early tone was influenced by Bank of Nova Scotia’s better-than-expected quarterly performance and its C$1.9 billion deal to acquire Laurentian Bank. The move added momentum to financials at the opening bell.

The S&P/TSX Composite Index opened 0.21% higher at 31,165.92, according to Reuters. Real-time data from Desjardins later showed the benchmark trading near 31,120, up around 19 points (0.06%) from Monday’s close. The index also touched an early intraday high of 31,178.96, with a 52-week high just above 31,400.

Market Context: Monday’s Decline Sets the Stage

The positive start on Tuesday followed a sharp selloff a day earlier. The S&P/TSX Composite fell 0.90% on Monday, ending a strong multi-session climb that had recently carried the index to record levels. Losses were concentrated in information technology, REITs and the wider real estate segment.

Some of the previous session’s biggest moves were notable. Bausch Health gained more than 11%. Curaleaf Holdings and Nutrien also ended firmly higher. On the downside, Celestica dropped over 7%. Shopify slipped more than 6%. Bombardier declined more than 4%. The moves reflected continued sensitivity among higher-valuation growth names to rate expectations and sentiment conditions.

Overnight, futures tracking the index edged up about 0.1%. Traders were watching for additional Canadian bank earnings, and Tuesday’s early session appeared to align with those expectations as the market positioned around upcoming financial sector results.

Financials Lead Early Momentum

By mid-morning, the TSX remained slightly higher, holding near 31,120 and above Monday’s close of 31,101.78. The session signaled a tentative rebound as participants assessed renewed sector rotation, recent earnings data and ongoing macro developments. The combination of bank results and merger activity continued to anchor sentiment on December 02, 2025.