Futures tracking Canada’s main stock index edged lower on Tuesday, pressured by rising global bond yields and ongoing uncertainty in the Middle East. Oil prices advanced as prospects for a US–Iran peace agreement dimmed, heightening concerns that higher energy costs could fuel inflation. Climbing bond yields weighed on financial stocks and the broader equity market, while a pullback in gold prices dragged down mining shares.
In corporate news, NexGen Energy is sharing information and holding regular discussions with mining major BHP regarding its Rook I project in Saskatchewan, CEO Leigh Curyer said when asked about the possibility of BHP taking an equity stake.
On the economic front, July home sales rose, but by less than economists had forecast. Meanwhile, Canada is bracing for a new round of 50% US tariffs this week, with negotiators from both countries still far from reaching even a draft trade agreement.
