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CANADA STOCKS-TSX retreats from record high as fall in gold drags miners lower
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CANADA STOCKS-TSX retreats from record high as fall in gold drags miners lower
Jul 16, 2026 9:04 AM

* BlackBerry shares hit three-week low

* Miners down as gold slips

* TFI International ( TFII ) top gainer

By Sudeshna Ghoshal

Juy 16(Reuters) - Canada's main stock index fell on

Thursday, retreating from a record high in the previous session,

as slipping gold prices weighed on mining stocks.

The Toronto Stock Exchange's S&P/TSX Composite Index

was down 0.1% at 35,376.24 points by 11:00 a.m. ET.

* The heavily weighted materials sector, which

includes miners, dropped 3.6% as gold hit a two-week low amid

renewed inflation concerns tied to uncertainty over the Middle

East conflict.

* Spot gold and silver fell 1.6% and 3%,

respectively.

* 5N Plus ( FPLSF ), Americas Gold and Silver ( USAS ) and

AbraSilver Resource ( ABBRF ) were among the biggest decliners,

falling 6% to 7%.

* BlackBerry fell to a three-week low, leading

losses in the technology sector, which dropped 0.8%.

* TFI International ( TFII ) emerged as the top gainer,

rising 6% after a rating upgrade by Scotiabank.

* The energy sector rose 0.4% as oil prices

advanced on concerns over potential supply disruptions from

escalating tensions in the Middle East.

* Investors were also monitoring USMCA talks. U.S. Trade

Representative Jamieson Greer said on Wednesday that talks with

Mexico had made progress, while negotiations with Canada had yet

to yield concessions sought by President Donald Trump.

* "Whether it's a three-way deal like we had before, or it's

a two-way deal that Canada negotiates its own direct deal with

the U.S....either way, I anticipate that it's either going to be

similar or perhaps slightly worse; that would be my best-case

scenario," said Sartorial Wealth CEO Shiraz Ahmed.

* The Trump administration said earlier this month it would

not renew the USMCA trade agreement, but that the pact would

remain in effect until the issues were resolved or the agreement

terminated.

* On the domestic front, Canadian housing starts came in

below expectations in June, according to data from the national

housing agency.

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