Canada Stocks: TSX falls for second day on lower oil and gold prices

CGI

18/06/2026 21:30

TSX ends down 0.4% at 34,969.26
Energy loses 1.9% as oil settles lower
Materials group falls 2.7%, tracking gold 
Toromont Industries shares jump 17.1%
Updates at market close
By Tharuniyaa Lakshmi and Fergal Smith

    TORONTO, June 18 (Reuters) - Canada's main stock index fell on Thursday as the Federal Reserve's more hawkish stance and the prospect of increased oil supplies weighed on commodity prices.
The Toronto Stock Exchange's S&P/TSX Composite Index .GSPTSE ended down 155.85 points, or 0.4%, at 34,969.26, extending its pullback from a record closing high on Tuesday.

        Oil fell to its lowest level since before the start of the Iran war at the end of February as an interim deal to end fighting, reopen the Strait of Hormuz and ease sanctions on Tehran boosted the global supply outlook.
U.S. crude futures CLc1 settled 0.25% lower at $76.60 a barrel, while the energy sector .SPTTEN was down 1.9%.
"You had a two-punch whammy in two sectors that are quite meaningful in the Canadian market," said Greg Eckel, portfolio manager of Canadian General Investments. "You've had the price of oil declining, along with energy stocks and the prospect of higher rates pressured gold stocks." 
The Fed held interest rates steady as expected on Wednesday but new projections and comments from Kevin Warsh, who was presiding over his first meeting as chair, blindsided traders and led markets to price in a possible hike within months.
The materials group .GSPTTMT, which includes metal mining shares, lost 2.7%. Gold XAU= fell as the hawkish policy signals from the Fed boosted the U.S. dollar.
Shares of information technology consulting company CGI Inc GIBa.TO fell 7.1%, which contributed to the technology sector declining 2.5%.
Six of 10 major sectors ended higher, including heavily weighted financials and industrials, which added 0.5% and 0.9% respectively.

        Toromont Industries Ltd TIH.TO shares jumped 17.1% after the Caterpillar equipment dealer announced an update on its power systems business.

 (Reporting by Fergal Smith in Toronto and Tharuniyaa Lakshmi in Bengaluru; Editing by Diti Pujara and Deepa Babington)
 ((fergal.smith@thomsonreuters.com; +1 647 480 7446))