04:27 PM EDT, 07/14/2026 (MT Newswires) -- The Toronto Stock Exchange rose on Tuesday as gains in base metals and financial stocks offset weakness across most other sectors, while higher gold prices supported sentiment

The S&P/TSX Composite Index closed up 67.82 points, or 0.19%, at 35,320.54, despite a majority of sectors ending lower.

Base Metals led gainers, up 3.65%, with Financial and Utilities, up 0.71% and 0.24%, respectively. Battery Metals Index led decliners, down 3.35%, while Health Care, down 0.83%, Industrials, down 0.74%, Telecom, down 1.40%, Information and Technology, down 1.78%, and Energy, down 0.92%.

In commodities, gold rose off an eight-month low on Tuesday as the US dollar and yields weakened after US consumer prices eased in June, easing concerns rising prices would force higher interest rates.

Gold for August delivery was last seen up $57.50, or 1.4%, to $4,063.20 per ounce, after falling to the lowest since Nov. 6 a day earlier. The US Bureau of Labor Statistics reported the Consumer Price Index fell by 0.4% in June, down from a rise of 0.5% in May and against expectations for a fall of 0.2%, according to MarketWatch.

Meanwhile, West Texas Intermediate (WTI) crude oil rose for a second day on Tuesday as renewed fighting between the US and Iran again threatens to keep Persian Gulf supply off the market.

WTI crude oil for August delivery closed up $1.20, or 1.5%, to settle at $79.34 per barrel, the highest since June 15, while September Brent oil was last seen up $1.34, or 1.6%, to $84.64. Oil is now up 11% in the past two days after Iran and the US renewed fighting on the weekend.

On the trade front, Canadian mushroom producers face the prospect of additional US duties.

The US Commerce Department has proposed an 8.26% preliminary anti-dumping duty on most fresh mushrooms imported from Canada, following an investigation into whether Canadian producers were selling the product in the United States at unfairly low prices, reported The Canadian Press.

Mushrooms Canada disputed the probe's finding.

The US separately imposed a 2.84% countervailing duty on Canadian mushroom imports in May after the Commerce Department preliminarily concluded that producers had benefited from unfair government subsidies, a finding disputed by the industry.

Looking ahead, investors will turn their attention to the Bank of Canada's policy decision this week.

BoC's Governor Tiff Macklem is expected to strike a cautious tone at Wednesday's policy meeting, weighing persistent risks to growth against potential upside to inflation, according to Nomura Global Markets Research.

"That dilemma persists, and the overall outlook has not changed materially" since June's policy meeting, Nomura's Ruchir Sharma wrote in a note made available on Monday.

Macklem previously said inflation risks had eased after the US-Iran ceasefire, but renewed tensions may prompt the BoC to remain cautious, said Nomura. With risks still balanced, the governor is likely to reaffirm that policy is well-positioned and responsive to evolving conditions.

The BoC policy statement is due out at 9:45 a.m. ET Wednesday, followed shortly after by a press conference with Macklem. Nomura expects the central bank to keep the policy rate on hold at 2.25%, in line with the market consensus.

In a survey published on Tuesday, Royal LePage predicts Canadian home prices will rise 2.0% annually in the fourth quarter of the year, reflecting an upgrade from its previous 1.0% forecast given in April. Quebec City is projected to record the strongest home price growth, with values expected to increase 8% annually in the fourth quarter, according to the forecast.

The Greater Montreal Area and Winnipeg follow with estimated gains of 5%, while Halifax, Edmonton, and Regina are each expected to see prices rise 4%. Home prices in the Greater Vancouver and Greater Toronto Areas are projected to decline by 3.5% and 2.0%, respectively.

Besides, a proposed pipeline between Alberta and the west coast could represent a significant step toward improving Canada's energy export capacity and reducing the discount of Canadian oil, but the economic payoff remains years away, according to Rosenberg Research.

The project would support Canada's efforts to diversify energy exports and reduce reliance on the US, which currently accounts for more than 80% of Canada's energy exports and over 90% of crude oil shipments, Rosenberg said in a note Tuesday. Additional export capacity could narrow the discount on Canadian heavy crude relative to the US WTI, added Rosenberg.

Alberta estimates the current $10-$15 per barrel gap could shrink by around $3, improving returns for Canadian producers. At the start of the month, Canada's federal government, Alberta and British Columbia agreed to advance the new route for Canadian crude to reach global markets. The pipeline could transport up to one million barrels per day and require an investment estimated at C$35 billion to C$45 billion.