Equities in Canada’s largest centre got bruised on a dismal Thursday, as tensions from the Middle East found their way into the stock picture.
The TSX dumped 332.89 points or 1%, to conclude Thursday at 33,609.97.
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, Canadian Natural Resources surpassed analysts' expectations for fourth-quarter profit. Natural Resources took on $1.79, or 2.9%, to $61.96.
Among miners First Quantum Minerals took a header of $3.16, or 8.4%, to $34.62, and Ero Copper slipped $3.88, or 9%, to $39.40, as some major producers cut output.
Tech stocks climbed led by Kinaxis, which jumped $4.55, or 4.5%, to $134.64, after strong customer expansion helped it beat quarterly revenue estimates.
In the gold patch, Wesdome Gold settled $2.13, or 8.3%, to $23.34, while Lundin Gold, off $8.41, or 7%, to $112.08.
In health-care, Curaleaf shed 21 cents, or 6.5%, to $3.01, while Bausch Health Companies lost nine cents, or 1.2%, to $7.60.
ON BAYSTREET
The TSX Venture Exchange sank 19.36 points, or 1.8%, to 1,060.16.
All but two of 12 TSX subgroups had dipped into the red by day’s end, with materials letting go of 4.2%, gold off 4%, and health-care, ailing 2.1%.
The two gainers were information technology, ahead 2.8%, and energy, up 0.3%.
ON WALLSTREET
Stocks resumed their decline Thursday after a one-day respite as concerns over the Iran war flared up again with U.S. crude topping $80 per barrel.
The Dow Jones Industrials stumbled 784.67 points, or 1.6%, to 47,954.74, weighed down by losses in stocks such as Caterpillar and Goldman Sachs. The stock selloff was led by Boeing, Caterpillar and other names that stand to lose the most if the global economy slows.
The S&P 500 index dived 38.79 points to 6,830.71.
The NASDAQ ditched 58.5 points to 22,748.99.
Class A and B shares of Berkshire Hathaway were a bright spot in the trading day. Both gained more than 1% after the conglomerate disclosed that it started repurchasing its own shares again for the first time since 2024. CEO Greg Abel also bought $15 million worth of stock himself.
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 $5.15 to $79.81 U.S. a barrel.
Gold prices dimmed $45.30 to $5,089.40 U.S. an ounce.
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