Canada Stocks: TSX inches lower as tech and mining shares fall

Bausch Health Companies

29/10/2026 20:34

Updates at market close
By Fergal Smith
TORONTO, Oct 29 (Reuters) - Canada's main stock index inched lower on Thursday, dragged down by mining and technology shares, as US data supported bets for a Federal Reserve interest rate hike next month.
The S&P/TSX Composite Index .GSPTSE ended down 16.06 points, or 0.04%, at 36,249.03, after three straight days of gains.
The US economy grew at its fastest pace in a year in the third quarter and price pressures picked up in September.
"Alongside firm economic activity, this renewed inflation momentum keeps another Fed rate hike in December firmly on the table," Ksenia Bushmeneva, an economist at TD Economics, said in a note.
Investors see a roughly 80% chance that the Fed tightens in December, while they are fully discounting another Bank of Canada rate hike by January after the central bank raised rates on Wednesday for the first time in three years. 0#USDIRPR0#CADIRPR
The materials group .GSPTTMT, which includes metal mining shares, fell 2.9% as Fed tightening expectations weighed on gold.
Shares of Alamos Gold AGI.TO were down 9.1% after the gold producer's quarterly results missed estimates.
Technology .SPTTTK lost 1.2%, tracking declines for US technology shares, as investors reassessed big tech's massive AI spending spree. 
Energy .SPTTEN was down 0.2% after US crude oil futures settled 0.8% lower at $102 a barrel on Mideast peace talk hopes.
The index's biggest decliner was Allied Properties AP_u.TO. The office landlord's shares tumbled 18.9% after it reported rental revenue falling 6.6% year-over-year.
All of the other major sectors ended higher, including financials, which added 1%.
Shares of Bausch Health Companies BHC.TO soared 28.3% after the company's quarterly results beat estimates.

 (Reporting by Fergal Smith in Toronto and Anand Gopal and Tharuniyaa Lakshmi in Bengaluru; Editing by Shilpi Majumdar and Alistair Bell)
 ((fergal.smith@thomsonreuters.com; +1 647 480 7446))