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CANADA STOCKS-TSX set for eighth straight quarter of gains
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CANADA STOCKS-TSX set for eighth straight quarter of gains
Jun 30, 2026 7:41 AM

* TSX set for quarterly gains but lags U.S. S&P 500

* Energy stocks among top performers this year

* Trilateral USMCA review scheduled for Wednesday

June 30 (Reuters) - Canada's main stock index dipped on

Tuesday as metal miners came under pressure for a second day,

but the benchmark was on course for an eighth straight quarter

of gains helped by a resilient economy and easing geopolitical

tensions.

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

was down 0.1% by 10:08 a.m. ET, still on track to register its

longest quarterly winning streak since January 1995-October

1996.

* The benchmark index was poised for a 6.3% gain in the

second quarter of the year, lagging behind U.S. peer S&P 500

, which is on track for a 14% gain.

* "The Canadian market, for the most part, has been largely

earnings driven," said Angelo Kourkafas, senior global

investment strategist at Edward Jones Investments.

* "It has lagged U.S. and some other indices because of its

commodities tilt. But markets are ready to enter a new quarter

from a solid footing."

* The rally in oil prices due to the Middle East conflict

helped Canada's energy index outperform other sectors

with a 25% jump this year.

* But crude prices have retreated sharply in recent weeks on

signs of progress in ending the conflict, weighing on Canada's

commodity-heavy stock index. Brent crude prices edged up

to $73.29 on Tuesday.

* Gold miners, part of the broader basic materials index

which has a 16% weight in the TSX, came under pressure as spot

gold prices headed for their worst quarter since 2013.

* Investors will keep a close eye on U.S. economic data this

week, including the June non-farm payrolls report, for clues on

the Federal Reserve's monetary policy path.

* Canada's economy rebounded more than expected in April,

data showed, following a slight contraction in the previous

month.

* U.S. President Donald Trump's administration is expected

to formally declare on Wednesday that it will not extend the

U.S.-Mexico-Canada Agreement (USMCA) on trade, starting a

decade-long clock to wind down the 32-year-old North American

free trade zone as the three countries haggle over proposed

changes.

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