30.10.202514:40:20UTC+00TSX Rebounds on Thursday

On Thursday, the S&P/TSX Composite Index experienced a modest increase of approximately 0.3%, crossing the 30,145 threshold. This uptick was primarily driven by robust performances in the mining sector, counteracting the subdued signals from central banks. Both the Bank of Canada (BoC) and the Federal Reserve reduced interest rates by 25 basis points. The BoC indicated that this could possibly be the end of their easing measures, provided the economic outlook remains stable, while the Federal Reserve played down the likelihood of further rate cuts in December. Agnico Eagle emerged as a standout performer, soaring over 3% after its third-quarter earnings per share (EPS) of $2.16 surpassed expectations by $0.21, alongside revenue figures reaching $3.06 billion, compared to the anticipated $2.95 billion. Similarly, Wheaton Precious Metals and Barrick Gold saw gains of nearly 3% and 2.5%, respectively, with financial and technology sectors also displaying upward trends. Conversely, companies operating in the copper sector faltered due to declining metal prices, with Ivanhoe Mines dropping over 4.5%, First Quantum Minerals declining by approximately 4%, and Teck Resources decreasing by around 2%. In terms of trade developments, the market noted a cautious optimism surrounding a potential rollback of US-China tariffs in exchange for resumed soybean purchases and relaxed rare-earth material restrictions. However, skepticism remains about the permanence of such trade truce agreements.