06.08.202614:09:53UTC+00TSX Steady as Earnings Offset Oil Gains

The S&P/TSX Composite Index was little changed around the 36,000 level on Thursday after closing at a record high, as investors weighed uncertain prospects for a potential US–Iran peace deal and digested another wave of corporate earnings.

Oil prices advanced as markets remained cautious over Iran–Oman talks. Shipping activity through the Strait of Hormuz and the Bab el-Mandeb Strait declined following Houthi claims of a missile strike on an oil tanker. The rise in crude prices pushed bond yields higher, while credit-sensitive stocks hovered near the flatline.

Among individual names, Canadian Natural Resources gained about 1.5% after second-quarter profit topped expectations, supported by stronger oil and natural gas prices. Lundin Mining slipped nearly 1.5% despite posting higher second-quarter revenue. Wheaton Precious Metals (WPM, +0.5%) and Sun Life Financial (+0.3%) are scheduled to report earnings after the market close.

Shopify rose 0.5% after at least six brokerages raised their price targets. In contrast, Celestica tumbled 13% after it priced a common share offering at a steep discount to the prior session’s closing price.