The S&P/TSX Composite Index fell around 0.1% to below the 26,590 mark on Tuesday, as Toronto’s heavyweight resource-intensive sectors came under pressure, while investors digested fresh inflation data. With oil prices second consecutive session plunge, driven by President Trump’s surprise Israel–Iran ceasefire and Iran’s limited missile strike on US bases in Qatar, neither of which threatened Strait of Hormuz flows, sank energy names, with Canadian Natural, Suncor, Imperial Oil and Cenovus retreating between 0.7% and 1.4%.
At the same time, bullion benchmarks softened as safe-haven bids waned, knocking major miners Agnico Eagle, Wheaton Precious, Barrick Gold and Franco-Nevada down between 2.6% and 3.5%. On the economic front, Canada’s headline CPI held at 1.7% year-on-year in May, below the Bank of Canada’s 2% target for a second month, lending further weight to expectations that domestic price pressures remain subdued.
