TSX top gainers: uranium and mining stocks lead the charge

Scotiabank (TSX: BNS, NYSE: BNS) received approval to increase its share buyback program from 15 million to 40 million common shares, representing 3.25% of its outstanding shares. The bank has already repurchased 13.04 million shares since the program began. The amended bid will take effect on October 6, 2026, and continue until April 6, 2027, unless terminated earlier.

Scotiabank raised its offer to buy out minority shareholders of Scotia Group Jamaica (SGJ) to $75 per share, up from $61.50, valuing the deal at $63.6 billion. SGJ shares jumped 12% to $66 in midday trading. The improved offer follows strong quarterly results and is subject to shareholder and court approval. Scotiabank Caribbean Holdings owns 72.76% of SGJ.

Canada's six largest banks (BMO, CIBC, National Bank, RBC, Scotiabank, TD) are exploring a joint project for Canadian dollar tokenized deposits on a blockchain. The initiative aims to enable efficient movement of tokenized deposits among financial institutions, with potential expansion to other digital assets. The banks also participate in a similar U.S. project via The Clearing House.

The Bank of Nova Scotia (BNS) issued C$750M (US$534.4M) in Canadian defense notes, the first defense-labeled bond in Canada. The 5-year non-call 4-year notes were priced, according to the company.

Scotiabank priced CAD $750 million of 5NC4 Canadian Defence Notes, its first offering under a new framework. Proceeds will support Canada's defence priorities. The bonds are the first defence-labelled issuance in the Canadian market, according to the bank.

Scotiabank issued €600 million floating rate notes maturing in 2028 under its Euro MTN Programme. The notes will trade on a regulated market, enhancing the bank's funding diversity and investor transparency, according to the company.