TSX Edges Lower at Week Start

The S&P/TSX Composite fell around 0.2% to below the 30,230 level on Monday, pressured by losses among miners ahead of major earnings for commodity giants.

Base metal miners led the decline with First Quantum down more than 3%, Ivanhoe Mines off about 2% and Teck Resources down nearly 1% as copper extended last week’s losses.

Major gold names traded flat to slightly negative, while Franco-Nevada outperformed adding about 0.5% ahead of its results after the close.

On the macro side Canada’s manufacturing PMI rose to 49.6 in October from 47.7 in September, signalling a smaller contraction and the slowest pace of decline since January.

Markets also tracked US–Canada trade tensions after PM Carney apologised over a political ad that prompted tariff measures and a temporary pause in talks.

Investors are now focused on Canada’s October employment report due later in the week, and on a heavy corporate calendar that includes Shopify, Fortis, Industrial Alliance and Intact reporting on Tuesday.