2025.12.2414:59:27UTC+00TSX Eases from Record High

On Wednesday, the S&P/TSX Composite Index experienced a slight decline of 0.4%, retreating from the record high achieved in the previous session. This downturn occurred during a thin-trading shortened session and was primarily attributed to pressure on gold mining stocks, resulting in underperformance compared to U.S. equities. Notably, heavyweight gold producers Barrick Gold and Agnico Eagle saw declines of more than 1%, as gold prices took a pause following their earlier ascent. Gold had previously gained support from expectations of expansionary fiscal policies in major global economies and rising geopolitical tensions, particularly with the United States intensifying its stance against Venezuela.

In other market movements, First Quantum Minerals saw a 1.5% drop after announcing the sale of its Las Cruces copper mine for $190 million. Meanwhile, banking stocks in Toronto showed signs of strength, as most traded higher. This followed the release of the Bank of Canada minutes, which indicated that the central bank is less inclined to implement rate cuts next year compared to the Federal Reserve, thereby bolstering domestic fixed income markets.