The S&P/TSX Composite Index fell 0.8% to close at 36,170 on Tuesday, pressured mainly by weakness in the mining sector. Gold producers registered steep declines as bullion prices slid following hotter‑than‑expected US inflation data and hawkish commentary from Federal Reserve officials. Agnico Eagle lost 4.5%, Barrick dropped 5.6%, WPM declined 4.4%, and Franco‑Nevada slipped 2.5%. Equinox Gold sank 6.2% after reporting adjusted Q3 EPS below expectations, while Endeavour Silver retreated 2.8% after narrowing its full‑year gold production guidance.
At the same time, oil prices extended their slide as investors increasingly priced in the prospect of a diplomatic resolution to the US‑Iran conflict. Softer energy prices offered some support to credit‑sensitive names: Great‑West Lifeco advanced 2.7%, and Fairfax Financial gained 2.5%. iA Financial climbed 1.5% after beating EPS forecasts and raising its quarterly common dividend. Even so, most major banks finished slightly lower. Elsewhere, Hydro One edged up 0.6% despite missing EPS estimates.
