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CANADA STOCKS-TSX retreats as materials and tech lead decline
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CANADA STOCKS-TSX retreats as materials and tech lead decline
Oct 9, 2025 8:07 AM

(Updates with morning prices)

By Ragini Mathur

Oct 9 (Reuters) - Canada's main stock index fell on

Thursday, with metal miners and technology stocks surrendering

recent gains, as investor focus turned towards Friday's crucial

domestic employment report for insights into the country's

economic health.

Toronto's S&P/TSX composite index was down 0.4% at

30,387.35 points, erasing the modest gains it had achieved at

the market open.

The decline was broad-based, with 10 of the index's 13

sectors trading in negative territory.

The energy sector bucked the downward trend,

advancing 1.2%, after experiencing a slight 0.1% dip in the

previous session.

Similarly, healthcare stocks climbed 1.2%,

bolstered by cannabis company Curaleaf Holdings ( CURLF ), which

surged 4.2%, after receiving a "buy" rating from Canaccord

Genuity analysts who initiated coverage of the stock.

However, the materials sector declined 0.7% as

gold prices eased, though they remained above the $4,000

threshold reached during Wednesday's trading.

Information and technology stocks dropped 0.5%

after gaining about 3% in the previous session.

The TSX has recently notched several all-time highs, riding

the momentum of gold's ascent - a rally fueled by heightened

geopolitical uncertainties, economic concerns, and persistent

expectations for U.S. interest rate cuts.

Market attention now pivots to Friday's Canadian employment

report, which will provide crucial insights into the country's

economic health and likely influence the Bank of Canada's

upcoming monetary policy decision.

"Generally, there's positive sentiment around economic

conditions," said Josh Sheluk, portfolio manager at Verecan

Capital Management, adding that while the economy is perceived

to be slowing, it is not seen as weakening or contracting

outright.

"However, in the employment picture, what we've observed

over recent months, perhaps even longer, is a gradual softening,

and markets will be closely watching whether we see some

stabilization in those numbers".

Meanwhile, south of the border, U.S. Federal Reserve Chair

Jerome Powell offered no fresh policy signals in his latest

comments, leaving investors to rely on existing data to guide

market sentiment.

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