TSX Muted as Earnings Take Focus

The S&P/TSX Composite Index was little changed around 36,000 on Monday after reaching a record high in the previous session, amid uncertainty surrounding US-Iran talks and a fresh batch of corporate earnings. Barrick slumped nearly 9% after reporting second-quarter earnings and revenue below expectations. Franco-Nevada (-1%) and Constellation Software (+2%) are scheduled to report earnings tomorrow. The market is also assessing last week’s stronger-than-expected Canadian jobs report, which showed employment rising by 75,100 in July while the unemployment rate fell for the third consecutive month to 6.4%. The resilient labor market could support a more hawkish stance from the Bank of Canada. Meanwhile, oil prices rose as uncertainty persisted over efforts to reopen the Strait of Hormuz, while gold prices edged lower.






