TSX falls as materials losses eclipse energy gains
SPY•Canada’s S&P/TSX Composite Index fell 0.2% to 35,695.2 points as materials shares dropped 1.9%, outweighing a 1.7% rise in energy stocks. Kinross Gold fell 9.8% after lowering its 2026 and 2027 production guidance.
1. Materials weigh on index
The S&P/TSX Composite Index was down 0.2% at 35,695.2 points at 10:12 a.m. ET on Thursday. Materials shares fell 1.9%, with gold and silver miners leading losses as metal prices declined; energy stocks rose 1.7% as oil prices jumped more than 2%.
2. Yields and economic data
Higher crude prices added to inflation concerns as government bond yields stayed elevated. The U.S. 10-year Treasury yield remained above 5%, while its Canadian equivalent was last at 3.92%. Canadian retail sales fell 0.7% in July, marginally less than analysts had expected.
3. Company moves
Kinross Gold shares fell 9.8% after the miner lowered its 2026 and 2027 attributable production guidance. BlackBerry shares declined 1.6% despite the company raising its full-year revenue forecast.
