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CANADA STOCKS-TSX ticks higher as gold prices boost miners
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CANADA STOCKS-TSX ticks higher as gold prices boost miners
Jul 9, 2026 8:30 AM

* Mining shares rebound as gold, silver jump

* Intact Financial ( IFCZF ) falls after forecasting catastrophe

losses

* Energy index dips 0.8%

By Sudeshna Ghoshal

July 9(Reuters) - Canada's commodity-linked main stock index

ticked higher on Thursday as higher gold prices boosted miners,

while investors were cautious over renewed tensions between the

U.S. and Iran.

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

rose 0.73% to 35,193.92 points by 10:31 a.m. ET. The

benchmark logged its biggest percentage drop in over a month on

Wednesday.

* Oil prices fell slightly after surging in the previous

session as traders weighed the impact of renewed hostilities in

the Middle East.

* Canada's energy index dropped 0.8% as Brent

crude futures dipped 1% to $77.23 per barrel and West

Texas Intermediate crude eased 1.2% to $72.64 per barrel.

* Gold advanced on an easing dollar and as traders flocked

to the precious metal, which is seen as a safe-haven asset in

times of uncertainty. Spot gold was up 1.1%, while silver

surged 3.2%.

* The materials index, which includes metal

miners, rose 2.5% and was among the top sectoral gainers,

bouncing from a seven-month low.

* First Majestic Silver Corp ( AG ) added 8.7%, leading

gains in the main TSX index, while DPM Metals ( DPMLF ) and

Endeavour Silver ( EXK ) rose 7.5% and 6.4%, respectively.

* Investors are awaiting Canada's June jobs report on Friday

for insights on the health of the economy and the Bank of

Canada's monetary policy path.

* "Part of what they'll be considering for their next

meeting is whether there is going to be an adjustment to rates,"

said Matthew Kempton, portfolio manager at Verecan Capital

Management.

* Kempton said the jobs report will be closely watched in

determining the rate path, particularly if inflation pressures

show up through wage growth.

* Traders largely expect the central bank to keep interest

rates on hold for the rest of the year, LSEG-compiled data

showed. Its next policy decision is scheduled for July 15.

* In company news, Triple Flag rose 1.9% after the

precious-metals streamer reported preliminary second-quarter

revenue of $129.2 million, up from a year earlier.

* Intact Financial ( IFCZF ) dipped 1% as the insurer

forecast C$416 million ($293 million) of catastrophe losses for

the second quarter of 2026, pre-tax and net of reinsurance.

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