Canada Stocks: Toronto stocks slip as Barrick tumbles; US-Iran talks in focus

Western Copper and Gold

10/08/2026 15:37

Barrick leads index losses after Q2 profit miss
US CPI, PPI data due this week
Western Copper and Gold appoints Mark E. Smith as chairman‌‌
By Sudeshna Ghoshal
August 10 (Reuters) - Canada's main stock index edged lower on Monday, pressured by losses in Barrick Mining ABX.TO after it missed quarterly profit estimates, while investors assessed developments in the Middle East and awaited key U.S. economic data due later in the week.
The S&P/TSX Composite Index .GSPTSE was down 0.1% by 10:00 a.m. ET.
Barrick Mining shed more than 8% after the miner missed second-quarter profit estimates, leading declines on the main index.
Other miners also traded lower as gold prices slipped, pressured by a firmer U.S. dollar. The materials sector .GSPTTMT fell 2%.
Energy shares .SPTTEN gained 2.7%, tracking a 2% jump in oil prices  after Iran insisted that the U.S. must satisfy several demands before the Strait of Hormuz can reopen.
Eight out of the index's 10 major sectors traded lower.
"A lot of what is going to determine the direction for stocks this week is going to be the U.S. inflation data," said Angelo Kourkafas, senior global investment strategist at Edward Jones Investments.
U.S. Consumer Price Index (CPI) data for July is due on Wednesday and Producer Price Index (PPI) on Thursday.
Near-term interest rate-hike bets eased after data showed the U.S. economy unexpectedly shed jobs in July. Traders are now pricing in a 46% chance of a rate hike in September, according to the CME FedWatch tool.
Meanwhile, Canada's jobs report for July was more upbeat, with employment jumping by 75,100 positions.
Still, the central bank is widely expected to keep its interest rates unchanged during the September meeting, LSEG data showed.
In company news, Western Copper and Gold WRN.TO appointed Mark E. Smith as chairman. Shares of the miner were up 1.7%.
Canada is discussing trade concessions with the U.S. to avoid new tariffs, a source familiar with the talks said on Friday.

 (Reporting by Sudeshna Ghoshal in Bengaluru; Editing by Sahal Muhammed)
 ((Sudeshna.Ghoshal@thomsonreuters.com;))