The S&P/TSX Composite Index edged up 0.2% on Tuesday to close at 35,273, lifted by strength in the energy sector and solid trade data. Canadian Natural Resources advanced 3.2%, Suncor gained 3.2%, Imperial Oil rose 3%, and Cenovus climbed 3.5% as crude prices moved higher following reports that the United States plans to revoke the waiver allowing Iran to export oil, in response to recent attacks on tankers in the Strait of Hormuz.
Financials were mixed as investors looked ahead to the release of minutes from the Federal Reserve’s June meeting for guidance on the future path of monetary policy. Royal Bank of Canada rose 0.5%, Toronto-Dominion Bank gained 0.6%, and Bank of Montreal added 1.2%, while Bank of Nova Scotia and Brookfield each slipped 1%.
In contrast, weaker gold prices pressured the mining sector. Agnico Eagle Mines and Wheaton Precious Metals declined 3.2%, and Barrick Gold fell 3.5%.
