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The S&P/TSX Composite Index slipped on Tuesday, easing back from Monday’s record close amid broad-based weakness in mining, financial, and energy shares. Gold producers came under pressure as bullion prices declined, weighed down by a stronger US dollar and heightened caution ahead of Wednesday’s Federal Reserve policy announcement. Agnico Eagle, Barrick, and Wheaton Precious Metals each fell by nearly 3%.
Financials also moved lower, with Royal Bank of Canada, TD Bank, Bank of Montreal, CIBC, and Brookfield all losing around 1%. Energy stocks weakened as crude prices retreated on rising expectations of a resolution to the US–Iran conflict. Imperial Oil and Cenovus each slipped close to 1%, while Canadian Natural Resources shed more than 0.5%.
In contrast, technology names outperformed. Celestica gained about 1%, Shopify advanced 2%, and Constellation Software climbed 2.5%. TFI International also rallied 7% after topping forecasts. After the close, earnings are scheduled from Great-West Lifeco (+0.1%), First Quantum (-4%), Cardinal Energy (-1%), and Intact Financial (+1%).
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