The S&P/TSX Composite Index slipped 0.1% to below 33,250 on Thursday, extending its pullback from record highs as declines in technology and select commodity names outweighed gains in financials and utilities. Shopify fell about 4% despite recent analyst upgrades, while Constellation Software lost more than 2.5% and Celestica dropped roughly 3.5%. Gold miners were broadly weaker—Barrick retreated 1.5%, Agnico Eagle declined 1%, and Kinross slid 1.8%—even as bullion prices have remained elevated this year.
In contrast, the financial sector underpinned the market. Royal Bank advanced 0.8%, TD rose 0.7%, Scotiabank added 0.5%, and National Bank edged up 0.4%, underscoring ongoing resilience among the banks. Sun Life jumped nearly 5% following its earnings release, while Manulife fell 2.7% on softer quarterly profit, sending mixed signals from insurers. Energy stocks were mixed, with Suncor and Cenovus posting modest gains as Canadian Natural eased lower.
