Canadian Stocks Rise on Mining Gains

The S&P/TSX Composite Index gained nearly 0.5% to trade above the 35,000 mark on Thursday, supported by strength in the mining sector. Gold prices moved higher as the US dollar stabilized, lifting Barrick, Agnico Eagle, WPM, and Franco-Nevada by about 1% each. Financial stocks also advanced, with RBC and TD Bank gaining more than 0.5%. Elsewhere, Triple Flag added over 0.5% after reporting preliminary second-quarter revenue of $129.2 million, up from a year earlier. Firan Technology jumped more than 5% after beating second-quarter revenue estimates. Also, Meta announced plans to build its first Canadian data center in Alberta, underscoring continued investment in AI infrastructure. Investors now await Canada's June employment report on Friday for further clues on the Bank of Canada's policy outlook. Markets widely expect the central bank to leave interest rates unchanged at its next meeting.

Futures tracking the S&P/TSX Composite Index were little changed on Thursday as investors assessed the impact of renewed fighting in the Middle East on inflation. Oil prices remained firm after surging in the previous session, backing concerns energy-driven inflation and higher interest rates to pressure financial companies. Meanwhile, gold prices edged higher as the USD stabilized, lending support to mining stocks. Elsewhere, Triple Flag reported preliminary second-quarter revenue of $129.2 million, up from a year earlier. Firan Technology beat second-quarter revenue estimates. Meta announced plans to build its first Canadian data center in Alberta, highlighting continued investment in AI infrastructure. Investors now await Canada's June jobs report on Friday for further clues on the BoC's policy outlook. Markets widely expect the central bank to keep interest rates unchanged.

The S&P/TSX Composite Index fell 0.9% to close at 34,936 on Wednesday as renewed US-Iran tensions fueled risk aversion. President Trump said the memorandum of understanding with Iran to end the conflict was "over," reviving concerns over potential disruptions to global energy supplies. Higher oil prices renewed fears of energy-driven inflation and higher interest rates, reinforced by minutes from the Fed's June meeting, that showed policymakers saw a case for rate hikes if inflation remains high. RBC shed 1.8%, TD Bank lost 2.6%, and BMO was down 2.4%. Mining stocks came under pressure as gold prices slipped. Agnico Eagle lost 3.7%, Barrick shed 3.4%, and WPM was down 4%. Trilogy Metals (-3.5%) reported a wider second-quarter loss. Meanwhile, Ivanhoe Mines gained 1.1%  after the company said copper production ?at its ?flagship complex  ?is set to rise in the second half of 2026. Elsewhere, Air Canada dipped 2.1%  after it said Anko Van der Werff would succeed as CEO.