30.07.202620:54:35UTC+00TSX Rises on Banks and Miners

The S&P/TSX Composite Index rose 0.5% on Thursday to close at 35,506, driven by gains in mining and heavyweight financial stocks. Major banks rebounded following Wednesday’s selloff, with TD Bank up 2%, Scotiabank advancing 1.6%, and both RBC and BMO adding 1.4%, while CIBC gained 1.2%.

A weaker US dollar supported gold prices and lifted miners. Agnico Eagle jumped 4%, Barrick gained 3.2%, WPM climbed 3.1%, and Franco-Nevada advanced 2.8%.

Technology stocks lagged. Lightspeed Commerce slumped 12.8% after missing first-quarter profit estimates. Shopify dropped 5.6% and Constellation Software fell 3.1%. In contrast, Celestica surged 6.9%, mirroring a rally in US chipmakers.

On the earnings front, Vermilion Energy (+5.6%), Kinross Gold (+1.2%), Cenovus (+4%), Alamos Gold (-1%), and Loblaw (-0.5%) all reported results ahead of expectations. Ivanhoe Mines (-0.2%) and Tourmaline Oil (-3.3%) disappointed. Canadian Natural (+1.4%) and Fairfax Financial (-2.1%) were scheduled to report after the close.