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Kospi Plunges 5%, Oil Near $106 as TSX Reopens | Daily Markets Update Oct 13

  Canadian Money Brief • Daily Markets Update • Tuesday, October 13, 2026 Good morning. Canadians return from the long weekend to a lot of catching up. Asia's chip stocks were hammered overnight, oil is hovering near US$106 a barrel, and the loonie is sitting near its weakest level in 18 months. The TSX reopens today after Thanksgiving, and Wall Street's big banks kick off earnings season ahead of tomorrow's US inflation report. The Big Three Today 1. Kospi crashes 5.46% to 6,035 on a global chip and AI selloff 2. Brent settles at US$106.65, its highest close since Sept. 15, on attacks on Saudi Arabia 3. TSX reopens after Friday's 519-point jump on a shock jobs report; USD/CAD near 1.43 Canada: TSX Reopens After a Jobs Shock The Toronto Stock Exchange was closed Monday for Thanksgiving, so Friday's session is still the latest close, and it was a big one. The S&P/TSX Composite jumped 519.24 points (+1.48%) to 35,664.62 after Statistics Canada reported that t...
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French Election Outcome: Leftist Coalition Gains Majority, Macron Faces Uncertainty

 

The French election results have yielded an intriguing outcome. While the far-right party, led by Marine Le Pen’s National Rally, increased its seats in the National Assembly, it did not secure an outright majority. Instead, French voters granted the most parliamentary seats to a broad leftist coalition, keeping the far right away from power. President Emmanuel Macron’s centrist alliance came in second. 

Now, with no clear figure emerging as a possible future prime minister, Macron faces uncertainty. He has stated that he will wait to decide his next steps and is heading to Washington this week for a NATO summit. The new legislators can begin work in parliament on Monday, with their first session scheduled for July 18. Prime Minister Gabriel Attal offered his resignation, but Macron asked him to remain temporarily as head of the government. Macron’s term runs until 2027, and despite his weakened position, he still holds significant powers over foreign policy, European affairs, defense, and international treaties negotiation. 

For now, France remains in an unprecedented situation, and the challenge lies in navigating this delicate political landscape.

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