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25.06.202620:56:49UTC+00TSX Edges Higher on Banks and Miners Gains

The S&P/TSX Composite Index advanced 0.3% to close at 34,850 on Thursday, lifted by strength in the financial and mining sectors. Oil prices inched higher after a cargo ship was hit by an unidentified projectile off the coast of Oman, but remained near pre-conflict lows, helping to ease inflation concerns and underpinning financial stocks and the broader market. TD Bank gained 0.9%, RBC rose 0.4%, and BMO added 0.9%. Firming gold prices also supported mining shares, with Agnico Eagle up 1.7%.

In contrast, renewed volatility in US technology stocks spilled over into Canada, pressuring domestic tech names. Shopify slipped 2.6%, Constellation Software fell 3.6%, and Celestica declined 0.7%. Investors also digested the latest Bank of Canada minutes, which indicated policymakers agreed to keep monetary policy flexible in light of potential new US trade restrictions and shifts in energy prices.

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