TSX Falls Amid Losses in Banking and Mining
The S&P/TSX Composite Index fell nearly 0.5% to below 35,500, weighed down by losses from major banks and miners. Global yields remained elevated near multi-year highs amid concerns over persistent energy-driven inflation, rising fiscal risks and increasing debt issuance linked to artificial intelligence. Credit-sensitive stocks posted losses, with RBC and TD Bank down more than 0.5%. Mining shares also declined as gold prices pared gains, with Agnico Eagle shedding nearly 1.5% and Barrick losing more than 1.5%. Elsewhere, Suncor (-1.5%) said it had agreed to sell its interests in three offshore oil assets to Ithaca, while Cenovus (-4%) said it would acquire Athabasca Oil in a cash-and-stock transaction. Energy stocks were also pressured as the oil rally stalled.
5% to below 35,500, weighed down by losses from major banks and miners. Global yields remained elevated near multi-year highs amid concerns over persistent energy-driven inflation, rising fiscal risks and increasing debt issuance linked to artificial intelligence. 5%. 5%.
5%) said it had agreed to sell its interests in three offshore oil assets to Ithaca, while Cenovus (-4%) said it would acquire Athabasca Oil in a cash-and-stock transaction. Energy stocks were also pressured as the oil rally stalled.