Canada Stocks: Miners boost TSX as choppy week ends

Ivanhoe Mines

21/08/2026 15:57

Materials sector hits over five-month high as gold rallies
Canada retail sales rise 0.6% in June
U.S., Canadian trade teams to meet again as tariff deadline nears
August 21 (Reuters) - Canada's main stock index rose on Friday, led by mining stocks as gold rallied, while investors weighed lingering strains in global bond markets and a diplomatic deadlock in the Middle East.
The S&P/TSX Composite Index .GSPTSE gained 0.6% to 36,601.49 points by 10:19 a.m. ET. Still, the index was on track for a 0.3% weekly loss.
The materials sector .GSPTTMT led the gains with a 2.7% rise, hitting over a five-month high as gold prices rallied against a dollar weakened by the U.S. Treasury's bond buyback move.GOL/
Lithium Americas LAC.TO, Ivanhoe Mines IVN.TO and Lundin Mining LUN.TO advanced more than 6% each.
Heavyweight financial stocks .SPTTFS also climbed, ahead of bank earnings next week. 
U.S. Treasury yields resumed their climb after Wednesday's surprise Treasury intervention delivered barely a day's relief from selling tied to inflation and fiscal concerns.
"The underlying issue has never been dealt with, which is high debt. And until someone actually deals with that, yields will continue to rise. Treasury Secretary buying back or buying more bonds, it's just a temporary fix," said Allan Small, senior investment adviser of the Allan Small Financial Group with iA Private Wealth.
Canadian retail sales data rose 0.6% in June, beating expectations, helped by higher sales at clothing and general merchandise stores.
Money markets expect the Bank of Canada to keep interest rates unchanged at its next meeting, while pricing in a nearly 47% chance of a rate hike in December, LSEG data showed.
On the trade front, Canadian and U.S. negotiators will meet for a third day in Washington on Friday, in a bid to seal a trade deal ahead of new American tariffs set to kick in on Saturday.

 (Reporting by Sudeshna Ghoshal in Bengaluru; Editing by Shreya Biswas)
 ((Sudeshna.Ghoshal@thomsonreuters.com;))