Jul 21, 2025 (Baystreet.ca via COMTEX) --
It was a topsy-turvy session in Toronto Monday, with the main index enjoying gaudy highs before a sharp drop brought the index closer to where it began.
The TSX Composite Index inched higher 2.99 points to end Monday at 27,317.
The Canadian dollar was ahead 0.22 at 73.08 cents U.S.
Among individual stocks, Osisko Development rose two cents to $3.37, after the mineral exploration company announced a $450 million credit agreement with funds advised by Appian Capital Advisory.
Gold led the parade of winners, with Centerra Gold better by 65 cents, or 6.8%, to $10.25, while Novagold captured 67 cents, or 9.1%, to $8.04.
In materials, SSR Mining tacked on 85 cents, or 5.2%, to $17.07, while Orla Mining advanced 91 cents, or 5.8%, to $16.66.
Telecoms were also in the green, with BCE improving 36 cents, or 1.1%, to $32.86, while Rogers taking 42 cents to $45.63.
In the energy field, Advantage Oil slumped 47 cents, or 4.1%, to $10.90, while Peyto lost 68 cents, or 3.5%, to $18.74.
In industrials, Thomson Reuters tumbled $8.36, or 2.9%, to $278.80, while WSP Global $4.24, or 1.5%, to $284.72.
In financials, Trisura Group dumped 72 cents, or 1.6%, to $43.60, while ONEX Corporation fell $1.71, or 1.5%, to $112.16.
U.S. Commerce Secretary Howard Lutnick said on Sunday he was confident that Washington could secure a trade deal with the EU, but August 1 is a hard deadline for tariffs to kick in.
However, traders awaited clarity on U.S.-EU trade talks and looked for additional trade deals ahead of Trump's August 1 tariff deadline.
Meanwhile, domestic investors will assess the Bank of Canada's Business Outlook Survey, due later in the day, for business expectations amid tariff-related uncertainty.
Economically speaking, Statistics Canada said its industrial product price index, the Industrial Product Price Index rose 0.4% month over month in June and increased 1.7% year over year. The raw materials index increased 2.7% month over month in June and grew 1.1% year over year.
ON BAYSTREET
The TSX Venture Exchange gained 5.05 points to 802.80.
Seven of the 12 TSX subgroups were higher, with gold brighter by 3.2%, materials stronger by 2.2%, and telecoms gaining 0.6%.
Among the five laggards, energy faded 0.9%, industrials were off 0.6%, and financials flattened 0.3%.
ON WALLSTREET
The S&P 500 moved higher on Monday as optimism around earnings overshadowed any investor fears over the latest developments in trade.
The Dow Jones Industrial Average gave back earlier gains and finished in the red 19.12 points to 44,323.07.
The much-broader index registered higher by 8.81 points to 6,305.60.
The NASDAQ Composite gained 78.52 points to 20,974.18, also a new closing record, bolstered by advances in major technology names like Meta Platforms and Amazon
This comes as earnings season is off to a strong start. Verizon shares popped 4% following a second-quarter earnings beat, spurring excitement that other reports will come in strong. It joins 62 S&P 500 companies that have reported thus far. Of those, more than 85% have topped expectations, according to FactSet data. Earnings for the second quarter are also tracking 5% year-over-year growth following the first week of results, per Bank of America.
Alphabet was a standout in the session, increasing more than 2% ahead of its quarterly results Wednesday after the bell. That name as well as Tesla -- the first of the "Magnificent Seven" companies set to report -- could boost the major averages if they manage to beat estimates. Shares of the electric vehicle maker ended the session marginally lower.
On Sunday, U.S. Commerce Secretary Howard Lutnick called Aug. 1 the "hard deadline" for countries to start paying tariffs, though he also added that "nothing stops countries from talking to us after Aug. 1."
This comes as earnings season is off to a strong start. Of the 62 S&P 500 companies that have reported thus far, more than 85% have topped expectations, according to FactSet data. Earnings for the second quarter are also tracking 5% year-over-year growth following the first week of results, per Bank of America.
Alphabet increased around 2%, while others like Meta Platforms and Apple advanced more than 1%.
Prices for the 10-year treasury climbed, weighing yields to 4.38% from Friday's 4.42%. Treasury prices and yields move in opposite directions.
Oil prices demurred 34 cents to $67.20 U.S. a barrel.
Gold prices boomed $51.30 to $3,409.60 U.S. an ounce.
COMTEX_467463393/2559/2025-07-21T16:42:12
