TSX Slips on Losses in Mining and Tech

The S&P/TSX Composite Index fell 0.5% do below 35,150 on Monday amid pressure from gold miners and tech.

Agnico Eagle and Barrick fell about 2%, while WPM lost more than 2.5% as a strong dollar pressed gold prices.

Meanwhile, oil prices fell further below pre-conflict levels after OPEC+ agreed to raise output targets again from August, while exports through the Strait of Hormuz continued to recover, improving global supply prospects.

These developments supported the view that the BoC a will keep interest rates on hold, pushing bond yields lower and easing concerns over borrowing costs.

Financial stocks outperformed, with RBC rising 1%, TD Bank gaining more than 0.5%, and BMO advancing over 1%.