Jun 26, 2025 (Baystreet.ca via COMTEX) --
The TSX Composite Index sprinted 185.63 points to close Thursday at 26,751.95
The Canadian dollar vaulted 0.39 cents to 73.32 cents U.S.
Capstone Copper was up 58 cents, or 7.4%, to $8.45, while Teck Resources jumped $4.12, or 7.9%, to $56.60. Ero Copper was up $1.76, or 8.1%, to $23.50
In the industrial sector, MDA hiked $1.37, or 4.1%, to $34.51, while Air Canada leaped 68 cents, or 3.4%, to $20.49.
Brookfield Asset Management said it would sell its Australian retirement home operator Aveo to The Living Company for A$3.85 billion ($2.5 billion U.S.). Brookfield shares captured 90 cents, or 1.2%, to $75.54.
Elsewhere in financials, ONEX Corp. zoomed $2.63, or 2.4%, to $113.29.
Consumer staples weighed on the market, though, NorthWest Company sliding 76 cents, or 1.6%, to $48.34, while Loblaw Companies lost $1.14 to $223.79.
In telecoms, Quebecor stumbled 51 cents, or 1.2%, to $41.12, while BCE dropped 27 cents to 29.83.
In techs, BlackBerry handed back 25 cents a share, or 3.7%, to $6.45, while Kinaxis collapsed $2.94, or 1.5%, to $199.40.
Investors have been soothed by a ceasefire between Israel-Iran. U.S. President Donald Trump said on Wednesday he would likely seek a commitment from Iran to end its nuclear ambitions at talks next week.
Meanwhile, Trump on Wednesday called Federal Reserve Chair Jerome Powell "terrible" and said he has three or four people in mind as contenders for the top job.
On matters macroeconomic, Statistics Canada reported the number of employees receiving pay and benefits from their employer--measured as "payroll employment" in the Survey of Employment, Payrolls and Hours--was little changed in April (-6,200), following two consecutive declines in February and March.
ON BAYSTREET
The TSX Venture Exchange gained 10.07 points, or 1.4%, to 728.79.
All but three of the 12 TSX subgroups gained, with materials soaring 1.4%, industrials prospering 0.7%, and financials richer 0.6%.
The three laggards were weighed by telecoms, sinking 0.6%, consumer staples, off 0.4%, and information technology, down 1%.
ON WALLSTREET
The S&P 500 rose to within a whisker of a new record Thursday, the culmination of a stunning comeback from lows set in April as the benchmark overcame a wall of worries that included tariff fights, wars and sticky inflation.
The Dow Jones Industrials zoomed 404.41 points to 43,386.84.
The much-broader index took on 48.86 points to close Thursday at 6,141.02.
The NASDAQ Composite tacked on 194.36 points to 20,167.91.
The S&P 500 is nearing its closing all-time high of 6,144.15.
Stocks rose to their highs of the session after White House spokesperson Karoline Leavitt played down the July tariff deal deadlines that have been looming over markets.
"The deadline is not critical," said Leavitt. "Perhaps it could be extended, but that's a decision for the president to make."
July 8 is when the so-called "liberation day" tariffs are set to take effect after a 90-day pause and July 9 is the deadline for an EU deal to avoid 50% tariffs.
Leavitt's comments further validated a main reason behind the surprising comeback from the market's low in April: That President Donald Trump would never actually implement those super-sized tariffs that he announced in April and eventually pushed off after they sent the markets reeling.
Initial jobless claims for the week ending June 21 pulled back to 236,000, which was below the 244,000-job consensus estimate. The data is indicative of a still-strong economy that seems to be holding up.
Tensions in the Middle East seemed to ease after Trump said Tuesday that a ceasefire between Israel and Iran was in effect. Though the president accused both countries of violating the agreement, saying he's "not happy" with either of them, the deal has since appeared to hold. The U.S. is planning to meet with Iran next week.
Tech giants helped lift the broad market index on Thursday as they have during the comeback, with AI play Nvidia rising 1% to touch a fresh all-time high. Shares of Meta Platforms added more than 2%, while Alphabet climbed 1.2%.
Prices for the 10-year treasury moved higher, lowering yields to 4.24% from Wednesday's 4.28%. Treasury prices and yields move in opposite directions.
Oil prices came earthward 47 cents to $65.39 U.S. a barrel.
Gold prices nosed ahead 70 cents to $3,343.80 U.S. an ounce.
COMTEX_466685973/2559/2025-06-26T16:42:18
