The S&P/TSX Composite Index slipped 0.1% to close at 35,706 on Thursday, as weakness in mining and a muted financial sector weighed on the benchmark. Canada’s 10-year government bond yield climbed to a three-year high, reflecting persistent energy-driven inflation concerns and a surge in US Treasury yields to multi-decade peaks. Crude oil and global bond yields were volatile but trended higher late in the session.
Financials were little changed overall. Falling gold prices pressured mining names, with Agnico Eagle down 0.6% and Wheaton Precious Metals off 0.7%. Kinross tumbled 11.3% after cutting its production outlook for 2026 and 2027.
By contrast, energy stocks advanced alongside higher oil prices. Retailers also moved higher, supported by estimates pointing to a rebound in August retail sales, which would mark the strongest monthly gain since January. Technology shares were mostly firmer, led by Shopify, which rose 2.4%, tracking gains in Meta as the two companies expand their partnership to allow purchases via Meta’s Muse AI agent using Shop Pay. BlackBerry fell 3.9% despite reporting solid fiscal 2Q26 results.
