Toronto equities closed modestly higher on Tuesday as gains in Energy, Telecoms and Clean Technology helped lift the S&P/TSX Composite. At the close in Toronto, the index was up 0.17%.
At the individual stock level, Methanex Corporation (TSX:MX) led the winners, rising 4.76% - a gain of 2.96 points - to finish at 65.21. South Bow Corp (TSX:SOBO) added 4.26%, or 2.09 points, to end at 51.13, while Spartan Delta Corp (TSX:SDE) climbed 4.14%, gaining 0.47 points to trade at 11.82 in late dealings.
Not all names participated in the rally. Americas Silver Corp (TSX:USA) was the session's largest decliner, slipping 10.25% or 0.71 points to close at 6.22. Avino Silver & Gold Mines Ltd (TSX:ASM) fell 7.90%, a 0.74-point drop to 8.63, and HudBay Minerals Inc (TSX:HBM) lost 7.78%, down 2.58 points to 30.58.
Decliners slightly outnumbered advancers on the Toronto Stock Exchange, with 501 stocks falling versus 487 advancing; 72 issues finished unchanged.
Volatility and market indicators
The S&P/TSX 60 VIX, which tracks implied volatility for S&P/TSX Composite options, eased 0.41% to 14.42, signaling a slight pullback in option-implied uncertainty.
Commodities and currencies
Commodities were mixed during the session. Gold Futures for August delivery declined 1.11% - down 46.21 - to $4,121.29 a troy ounce. Conversely, crude prices jumped: Crude oil for August delivery rose 5.22% or 3.58 to $72.13 a barrel, while the September Brent contract increased 5.36% or 3.86 to trade at $75.85 a barrel.
On the currency front, the Canadian dollar was effectively flat versus major peers. CAD/USD was unchanged at 0.70 (0.05% reported), and CAD/EUR was unchanged at 0.62 (0.28% reported). The US Dollar Index Futures was reported up 0.23% at 100.85.
What this means
The trading day produced a narrow advance in the headline Canadian equity gauge, supported by strength in energy-related and telecom-linked names while mining and metals stocks weighed on breadth. Elevated moves in oil contrasted with a retreat in gold, and option-implied volatility ticked down modestly.
Given the mixed internals and contrasting commodity moves, market participants may continue to track sector-level performance and commodity price behavior for direction in coming sessions.