The S&P/TSX Composite Index inched higher on Thursday, trading above the 35,000 mark, supported by strength in financial and mining shares. Financials advanced, with RBC, TD Bank, CIBC, and Scotiabank each gaining around 1%. A rise in gold prices bolstered the mining sector, lifting Barrick Gold and Franco-Nevada by nearly 1%.
Technology stocks were mostly weaker. Shopify fell 3% and Constellation Software declined nearly 4%, mirroring softness in U.S. software application names after Meta’s outlook disappointed investors. By contrast, Celestica jumped 6%, benefiting from a rally in U.S. chipmakers.
On the earnings front, Vermilion Energy (+2.5%), Kinross Gold (+0.2%), Cenovus Energy (+0.3%), Alamos Gold (-2%), and Loblaw (-0.5%) all reported results that topped expectations. Ivanhoe Mines (+0.1%) and Tourmaline Oil (-3%) fell short of estimates. Canadian Natural Resources (-0.5%) and Fairfax Financial (-1%) are scheduled to release their results after the market close.
