Canada Stocks: TSX trims weekly advance as tech shares decline

Celestica

14/08/2026 21:34

Updates at market close
By Fergal Smith
TORONTO, Aug 14 (Reuters) - Canada's commodity-linked main stock index gave back a small part of its weekly gain on Friday as losses for technology offset gains for energy and metal mining shares.
The S&P/TSX Composite Index .GSPTSE ended down 29.02 points, or 0.1%, at 36,730.27, after five straight days of gains. It posted a record closing high on Thursday and a weekly gain of nearly 1%.
"The rally in the TSX appears to be commodity driven rather than a broad-based growth driver," said Robert Gill, a portfolio manager at Fairbank Investment Management.
"Gold is showing some leadership. After selling off in previous months it's really starting to rebound and that's helped by the U.S. dollar being weaker and the continued geopolitical uncertainty."
Transit through the Strait of Hormuz was mostly closed and U.S. retail sales fell short of expectations, weighing on Wall Street.
The TSX's technology sector .SPTTTK fell 2.8%, giving back almost all of the previous day's sharp gain, with shares of electronic equipment company Celestica CLS.TO down 4%.
Air Canada's AC.TO revenue for September and October is likely to break records for the two months as more premium travelers avoid the heat and summer crowds in Europe and Japan, a senior executive said.
Still, shares of the airline were down 1.5%, contributing to a 0.6% decline for industrials .GSPTTIN.
The materials .GSPTTMT group, which includes gold mining shares, was up 1.2%, tracking gains in precious metals.
Gold XAU= was buoyed by a weaker U.S. dollar after U.S. inflation readings this week tipped the scales in favor of an interest rate hold by the Federal Reserve in September.
The price of oil CLc1 settled 1.4% higher at $82.40 a barrel after the U.S. threatened an indefinite naval blockade of Iran, raising concerns about disruptions to global oil supplies.
Energy .SPTTEN added 0.5%.

 (Reporting by Fergal Smith in Toronto and Sudeshna Ghoshal in Bengaluru; Editing by Jonathan Ananda and Alistair Bell)
 ((fergal.smith@thomsonreuters.com; +1 647 480 7446))