FX.co ★ TSX Retreats from Recent Highs

The S&P/TSX Composite index fell by 0.8% to close at 30,270 on Thursday, as losses in metal mining and technology sectors outweighed earlier gains. This occurred as investors keenly awaited the release of Friday’s domestic employment report for better understanding of Canada's economic health. In contrast, the energy and healthcare sectors experienced upward movement, bolstered by Curaleaf Holdings' 2.4% rise following a "buy" recommendation from Canaccord Genuity. Conversely, materials and financial sectors saw declines, with the materials sector down by 0.5% due to gold prices dipping below $4,000. Leading declines among stocks were Capstone Copper, IAMGOLD Corporation, B2Gold, Franco-Nevada Corporation, and Topaz Energy, which saw losses between 3.2% and 5.5%. Recently, the TSX has hit several all-time highs, driven by factors such as geopolitical uncertainty, economic concerns, and the anticipation of US interest rate cuts.