Oct 7, 2026 7:16am ET
The S&P/TSX Composite finished yesterday at 35,649.51, up 130.96 points or 0.37%. Emera said it would buy Canadian Utilities for $14.3 billion in stock. In overnight trading, oil was at US$90.08, up 0.72%, as stronger Gulf exports competed with concerns over attacks on tankers. Gold was at US$4,140.4, down 1.12%, and the Canadian dollar bought US$0.70309, down 0.11%. Ottawa also gave Stelco's U.S. owner five days to explain its announced layoffs of up to 500 people at the Hamilton plant, with Industry Minister Mélanie Joly accusing the company of breaking commitments on employment levels.
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Oct 7, 2026 4:31pm ET
The S&P/TSX Composite closed down 607.65 points, or 1.70%, at 35,041.86, with losses in basic materials weighing on the index. Gold traded at US$4,132.8 in late-afternoon trading, down US$54.3, and silver at US$59.940 was also lower, while the Canadian dollar was at US$0.70118, down 0.38%. Industry Minister Mélanie Joly said Stelco's U.S. owner Cleveland-Cliffs cannot cite the trade war as grounds for job cuts, pointing to its earlier commitments. Fairfax Financial said it is partnering with Wittington Investments to acquire The Boots Group. On Wall Street, the S&P 500 closed down 0.22% at 7,801.77.
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Written by AI based upon public market data and company news releases, and checked automatically before publishing. Company statements are reported as the companies made them. Not investment advice.
