27.10.202520:04:44UTC+00TSX Weighed by Major Miners

On Monday, the S&P/TSX Composite Index dipped by 0.3%, closing at 30,276. The decline was primarily driven by underperformance in the mining sector, which overshadowed gains made in the technology and financial sectors. High-level discussions between Chinese and U.S. officials laid the groundwork for Presidents Trump and Xi to finalize trade agreements later this week in South Korea. This development stimulated a risk-on sentiment, reducing demand for safe-haven assets and consequently lowering gold prices. As a result, notable mining companies including Agnico Eagle, Wheaton Precious Metals, Barrick, and Franco-Nevada saw their shares decrease between 2.1% and 5%, limiting the overall market's upward movement. However, the technology and financial sectors provided a degree of balance. Celestica advanced by 1.9% in anticipation of its earnings report, while Shopify and Constellation Software increased by 1.3% and 1.6%, respectively. Additionally, Brookfield rose by 1.2%, and energy stocks showed strength. Meanwhile, Canada faced an intricate economic landscape due to President Trump's recent termination of trade discussions with Ottawa over a tariff-related advertisement and his subsequent threat to impose an additional 10% in tariffs on Canadian goods, which heightened trade uncertainties specific to Canada.