FX.co ★ TSX Falls on Mining and Energy Losses

The S&P/TSX Composite Index fell 0.8% to close at 36,554 on Friday, pressured by broad weakness in mining and energy stocks. Mining names dropped sharply as gold prices declined after hawkish remarks from Federal Reserve Chair Kevin Warsh reinforced expectations for an interest rate hike next month. Agnico Eagle slid 3.8%, Barrick fell 3.1%, WPM lost 2.6%, and Kinross dropped 3.5%. Energy producers also retreated as oil prices weakened following increased traffic through the Strait of Hormuz and an agreement between Iran and Oman on a revenue-sharing framework for the key waterway. Canadian Natural declined 1.3%, Suncor slipped 1.1%, and Imperial Oil was down 1%. AI-infrastructure stocks mirrored losses in U.S. chipmakers, with Shopify down 0.6% and Celestica tumbling 5.5%. Financials and the broader market were more resilient, underpinned by Canada’s 3.3% GDP growth in Q2, the strongest expansion in nearly two years.