Stocks Pitch Lower As Miners Fall

(MENAFN- Baystreet)

Equities in Canada’s largest centre opened lower on Thursday, dragged down by mining shares as gold prices declined, while investors practiced caution amid the ongoing Middle East conflict that is continuing.
The TSX fell 345.47 points or 1%, to open Thursday at 33,597.39.
The conflict in the Middle East, which has pressured global markets, entered its sixth day with Israel launching a large wave of strikes on
Tehran after Iranian missiles sent millions of Israelis rushing into bomb shelters.
In other developments, Canada has signed new agreements on critical minerals with Australia, the countries said on Thursday.
In corporate news, oil and gas producer Canadian Natural Resources surpassed analysts’ expectations for fourth-quarter profit. Natural Resources grabbed $2.14, or 3.6%, to $62.38.
ON BAYSTREET
The TSX Venture Exchange sank 11.97 points, or 1.1%, to 1,067.55.
All but two of 12 TSX subgroups dipped into the red in the first hour, with gold parting with 4.1%, materials, down 4%, and telecoms off 1.3%.
The two gainers were information technology, ahead 1.7%, and energy, up 0.9%.
ON WALLSTREET
The Dow Jones Industrial Average fell on Thursday as traders caught their breath after a strong performance in the previous session and kept an eye on oil rising prices.
The 30-stock average stumbled 461.69 points, or 1%, to 48,277.72,
The much broader index dived 13.22 points to 6,856.28.
The NASDAQ gained 30.13 points to 22,837.62. Losses in the broad market index and the tech-heavy NASDAQ were kept in check by gains in software stocks, as names such as CrowdStrike and Palo Alto Networks advanced 4% and 2%, respectively.
Defense Secretary Pete Hegseth said in a briefing with reporters that the U.S. is“winning decisively” in its conflict with Iran and that more forces are arriving to the region. Separately, Treasury Secretary Scott Bessent said on that Trump’s recently announced 15% global tariff will likely go into effect this week.
Prices for the 10-year Treasury weakened, hiking yields to 4.13% from Wednesday’s 4.09%. Treasury prices and yields move in opposite directions.
Oil prices recovered $3.21 to $72.87 U.S. a barrel.
Gold prices dimmed $20.80 to $5,113.90 U.S. an ounce.

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