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10.07.202620:23:54UTC+00TSX Nears Record High on Strong Jobs Report

The S&P/TSX Composite Index rose 0.3% to close at 35,305, moving closer to its record high after a stronger-than-expected labour market report. Canadian employment increased by 18,200 in June, following a gain of 88,000 in May, while the unemployment rate unexpectedly dropped to its lowest level in nearly two years.

Financial stocks advanced, with RBC up 1%, TD Bank higher by 0.7%, BMO gaining 1.1%, and Brookfield rising 1.6%. Retailers also strengthened, as ATD added 0.8% and Loblaw climbed 1.2%.

In the technology sector, Constellation Software gained 2.4% after SK Hynix raised $26.5 billion through its American depositary receipt offering, marking the largest-ever first-time US stock sale by a foreign company.

By contrast, mining shares retreated as gold prices declined. Agnico Eagle slipped 1.6%, Barrick eased 0.6%, and Franco-Nevada fell 1.4%.

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