TSX falls as materials losses eclipse energy gains
EWC•Canada’s S&P/TSX Composite Index fell 0.2% as materials shares dropped 1.9%, outweighing a 1.7% gain in energy stocks. Higher oil prices and bond yields kept inflation concerns in focus.
1. Sector moves weigh on TSX
The S&P/TSX Composite Index was down 0.2% at 35,695.2 points in morning trading on Thursday. Materials shares fell 1.9% as lower gold and silver prices weighed on miners, while energy stocks gained 1.7% as crude prices jumped more than 2%.
2. Yields and company news
Higher crude prices added to inflation concerns as government bond yields remained elevated, with the U.S. 10-year Treasury yield above 5% and Canada’s equivalent at 3.92%. Canadian retail sales fell 0.7% in July, slightly less than analysts had expected. Kinross Gold shares fell 9.8% after it lowered its 2026 and 2027 production guidance; BlackBerry shares dropped 1.6% despite raising its full-year revenue forecast.
