Canada Stocks: TSX rises as investors await US trade deal developments

ATS

07/07/2025 15:52

Updates with morning prices

By Twesha Dikshit and Sukriti Gupta

July 7 (Reuters) - Canada's main stock index edged higher on Monday, while investors awaited details on the trade front ahead of U.S. President Donald Trump's tariff negotiation deadline.

The benchmark S&P/TSX composite index .GSPTSE was last up 0.2% at 27,080.3 points and set for another record closing high if gains hold. The index has posted fresh all-time highs every day of last week.

Trump said on Sunday that several trade agreements were close to being finalized and other countries would be notified of higher tariff rates by July 9. The new rates are set to take effect from August 1.

"The good news is extending conversations to August ... should be a positive for the markets because that tells you that the U.S. is willing to negotiate and they want to make a deal with the countries on trade," said Allan Small, Senior Investment Advisor at Allan Small Financial Group.

Canada said it was considering financially aiding large aluminum producers like Rio Tinto RIO.L in case Washington's 50% tariff on imports of the metal persist in the medium term, the CEO of a key industry trade group said on Saturday.

Healthcare .GSPTTHC stocks led sectoral gains on the index on Monday, rising 0.6%, while energy .SPTTEN stocks edged 0.3% higher.

Conversely, mining .GSPTTMT stocks fell 0.5%, tracking a fall in gold and copper prices. GOL/ MET/L

Gold miners Centerra Gold CG.TO fell 3.8% and Eldorado Gold ELD.TO lost 1.8%. Copper miner Ero Copper ERO.TO declined 2.7%.

Among individual stocks, ATS Corporation ATS.TO shares fell 7.1%, to the bottom of the benchmark index, as CEO Andrew Hider is set to leave company.

Sandstorm Gold SSL.TO gained 4.1% after Royal Gold RGLD.O said it will acquire the company for about $3.5 billion.

Horizon Copper HCU.V gained 67.2% after Royal Gold announced the acquisition of the company in an all-cash deal worth $196 million.

 (Reporting by Twesha Dikshit and Sukriti Gupta in Bengaluru; Editing by Sahal Muhammed)

 ((Sukriti.Gupta@thomsonreuters.com;))