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17.02.202621:03:54UTC+00TSX Weighed by Commodity Producers

The S&P/TSX Composite Index slipped 0.5% to close near 32,897, extending its pullback from record highs as weakness in resource heavyweights outweighed gains in financials. Materials led the decline, with Barrick Gold down 2.6%, Agnico Eagle off 1.6%, Wheaton Precious Metals lower by 2.4%, and Teck Resources down 1.6%, as both bullion and base metals paused after a strong rally. Elevated positioning in the sector left it vulnerable to profit-taking. Energy stocks also retreated amid crude price volatility, with Enbridge down 4.2%, Suncor losing 1.4%, and Imperial Oil falling 2.2%. In contrast, banks helped cushion the overall drop, as TD rose 0.4% and Scotiabank gained 0.8% after January inflation slowed to 2.3%, bolstering expectations that the Bank of Canada could begin cutting rates later this year.

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