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CANADA STOCKS-TSX pauses after strongest rally in three weeks; commodities support sentiment
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CANADA STOCKS-TSX pauses after strongest rally in three weeks; commodities support sentiment
Nov 6, 2025 7:55 AM

Nov 6 (Reuters) - Canada's main stock index remained

largely unchanged on Thursday, as higher commodity prices offset

broader market caution and disappointing earnings after the

benchmark's strongest session in three weeks.

At 9:57 a.m. ET, Toronto's S&P/TSX composite index

was down 0.1% at 30,075.80, after closing 1.1% higher on

Wednesday, marking its biggest single-day gain since October 14.

The rally was underpinned by upbeat U.S. economic data, with

services sector activity rising to an eight-month high in

October and private payrolls beating expectations.

The data helped ease investor concerns after top Wall Street

banks warned of stretched valuations, dragging the TSX to a

one-month low on Tuesday.

"I don't think there's much direction. It's a bit of a pause

and it's tough to say where the next catalyst is going to come

from. We don't know what's going to take this market higher,"

said Allan Small, senior investment advisor at Allan Small

Financial Group with iA Private Wealth.

Miners was up 2%, outperforming peers, as copper

prices rebounded after a four-day decline, with selling pressure

easing.

Gold went above the $4,000-per-ounce level due to concerns

over a prolonged U.S. government shutdown, while oil prices also

edged higher.

On the tariff front, U.S. Supreme Court justices raised

doubts over the legality of U.S. President Donald Trump's

sweeping tariffs in a case that could have implications for

markets across the globe.

Among other corporate news, Bombardier shares fell

1.6% despite topping Wall Street's third-quarter revenue

forecasts, while Canada Goose slumped 14% on a revenue

miss. TC Energy ( TRP ) edged down 0.6% after disappointing

profit.

TransAlta ( TAC ) fell 16% to the bottom of the S&P/TSX

composite index after the power generation firm reported a

decreased revenue in the third quarter.

Meanwhile, Equinox Gold ( EQX ) jumped 15.9% to the top of

the index after BMO raised the target price on the stock to C$20

from C$18.

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