The S&P/TSX Composite Index ended Thursday’s session little changed at 36,249, as weakness in the mining and technology sectors offset gains among the major banks. Agnico Eagle slid 4.1%, Wheaton Precious Metals declined 2.7%, and Barrick fell 2.6%. Several miners released their third-quarter results after Wednesday’s close: Kinross and First Quantum both exceeded profit expectations but still dropped 6.3% and 4%, respectively, while Alamos missed estimates and tumbled 9.1%.
In contrast, bank stocks advanced as easing oil prices helped temper inflation worries and reduced concerns that interest rates will remain elevated for an extended period. RBC added 0.6%, TD Bank rose 0.7%, BMO gained 1.2%, Scotiabank increased 0.9%, and CIBC climbed 1%.
Technology names came under pressure, mirroring a broader sell-off on Wall Street after Alphabet’s disappointing earnings. Celestica fell 5.8%, while Shopify slipped 0.7%.
