Bay Street stocks dived at open Thursday amid selling across a variety of sectors, even as gold stocks move higher. The S&P/TSX Composite Index lost 133.09 points or 1.04 percent to 12,619.43.
The Diversified Materials Index was down nearly 4 percent, with First Quantum Minerals (FM.TO) losing just over 5 percent and Teck Resources (TCK_B.TO) shedding close to 4 percent.
In the oil patch, Tourmaline Oil (TOU.TO) and Suncor Energy (SU.TO) lost around 3 percent each.
TD Bank Group (TD, TD.TO) shed close to 1 percent even after reporting improved second-quarter net income of C$1.72 billion compared to C$1.69 billion in the prior year.
Meanwhile, gold stocks were moving higher amid a rebound in bullion prices. Royal Gold (RGL.TO), Goldcorp. (G.TO), Barrick Gold (ABX.TO) and Eldorado Gold (ELD.TO) were up around 2 percent each.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.