S&P/TSX composite up, U.S. stock markets down in late-morning trading
The S&P/TSX composite index was up 25.06 points at 27,061.22.
In New York, the Dow Jones industrial average was down 320.15 points at 44,508.38. The S&P 500 index was down 41.21 points at 6,238.14, while the Nasdaq composite was down 153.78 points at 20,447.32.
The Canadian dollar traded for 73.27 cents US compared with 73.50 cents US on Friday.
The August crude oil contract was up 55 cents US at US$67.55 per barrel.
The August gold contract was down US$16.70 at US$3,326.20 an ounce.
Monday Mornings
The latest local business news and a lookahead to the coming week.
This report by The Canadian Press was first published July 7, 2025.
Companies in this story: (TSX:GSPTSE, TSX:CADUSD)
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Canada Standard
3 hours ago
- Canada Standard
China buying up mines globally FT
Beijing is reportedly racing to lock in critical mineral supplies as the West restricts Chinese investments Chinese companies are buying more mines abroad than they have in over a decade to secure key raw materials as Western countries restrict their investments, the Financial Times has reported. Ten deals each worth more than $100 million were signed last year, the highest since 2013, the outlet reported on Sunday, citing an analysis of S&P and Mergermarket data. "The rise in dealmaking partly reflects China's efforts to get ahead of the deteriorating geopolitical climate, which is making it increasingly unwelcome as an investor in key countries such as Canada and the US," the FT quoted analysts and investors as saying. Major deals reportedly included gold mines in Kazakhstan, Ghana, and the Ivory Coast, a copper mine in Zambia, a copper-gold mine in Brazil, and a 50% stake in a rare-earth project in Tanzania. China is the leading refiner of rare earths, responsible for 90% of global processing capacity, and holds the world's largest reserves of the critical elements. Beijing has made mineral security a national strategic priority, as the global demand for lithium, cobalt, and nickel rises with the growth of clean energy and high-tech manufacturing. Western governments have been trying to curb China's access to key minerals and processing technologies, aiming to secure their own supply chains and reduce dependency. The US and its allies have blocked Chinese investments, imposed export restrictions, and launched new partnerships to source minerals elsewhere. US President Donald Trump has framed mineral access as a strategic priority, tying it to diplomacy and conflict resolution. Last month, Rwanda and the Democratic Republic of the Congo signed a US-brokered peace deal, which Trump said secured American rights to Congolese mineral wealth. In April, Washington also signed a minerals agreement with Ukraine, presented as partial repayment for military aid. In June, Washington and Beijing reached a deal to resume rare-earth exports. China previously imposed export restrictions on these materials in retaliation to US tariffs, disrupting global supply chains. (
Edmonton Journal
3 hours ago
- Edmonton Journal
Chinese surveillance camera maker Hikvision appeals order to leave Canada
OTTAWA — A Chinese maker of surveillance camera systems is appealing a federal government directive ordering it to shutter its Canadian operations due to national security concerns. Article content Hikvision said in a media statement it is asking for judicial review of a June 27 federal government order stating that the company must close down its Canadian operations. Article content Article content It's also asking the Federal Court to put the shutdown order on hold until the court decides on the judicial review. Article content Article content The federal government made its decision following a national security review under the Investment Canada Act. Article content Article content 'Since entering the Canadian market, we have followed all applicable laws and regulations, and will continue to defend our position that Hikvision products and technology have not endangered the national security of Canada or any other country in which we operate,' the company said in its statement. Article content 'We expect the legitimate rights and interests of all investors and businesses operating in the country to be fully respected and protected by its judicial system.' Article content Hikvision said it will continue operating normally for the time being, following an 'agreement' with the attorney general. Article content The company describes itself as the world's largest manufacturer of surveillance equipment. It has had a Canadian subsidiary since 2014. Article content Article content Following the June 27 order, Industry Minister Melanie Joly said in an online post that the government looked at information and evidence provided by Canada's security and intelligence community. Article content Article content Hikvision has also faced sanctions in the U.S., Australia and the U.K. Article content Some of those sanctions are due to claims that Hikvision supplied China with surveillance cameras used in the Xinjiang region, where the Uyghur population has faced human rights abuses. Article content The three companies did not immediately respond to questions from The Canadian Press about whether they still sell Hikvision products. Article content China has taken aim at Canada over the shutdown directive. Article content 'This seriously undermines the legitimate rights and interests of Chinese enterprises and disrupts and hurts the normal economic and trade cooperation between China and Canada. China strongly deplores and firmly opposes this,' a Chinese embassy spokesperson said in a June 28 statement. Article content The statement urged Canada to 'change course immediately, stop abusing national security and politicizing economic and trade issues.'
Canada News.Net
3 hours ago
- Canada News.Net
Tariff-wielding president punctures U.S. stock markets
NEW YORK, New York - Monday's trading session saw mixed performances across U.S. and global markets, with several major indices posting losses amid cautious investor sentiment. Piercing the record-breaking run on Wall Street, U.S. stocks tanked on Monday following President Donald Trump's decision to impose tariffs of up to 40 percent on some countries. Allies Japan and South Korea have each been hit with 25 percent levies. "I am pleased to announce that the UNITED STATES TARIFF Letters, and/or Deals, with various Countries from around the World, will be delivered starting 12:00 P.M. (Eastern), Monday, July 7th. Thank you for your attention to this matter! DONALD J. TRUMP, President of The United States of America," the president posted on his social media platform Truth Soical on Tuesday. The S&P 500 (^GSPC) fell 49.37 points, or 0.79 percent, to close at 6,229.98, while the Dow Jones Industrial Average (^DJI) dropped 422.17 points, or 0.94 percent, settling at 44,406.36. The NASDAQ Composite (^IXIC) also declined, losing 188.59 points, or 0.92 percent, to end at 20,412.52. The NYSE Composite (^NYA) slipped 180.19 points, or 0.87 percent, to 20,545.60, while the Russell 2000 (^RUT) saw a steeper drop of 34.81 points, or 1.55 percent, closing at 2,214.23. The CBOE Volatility Index (^VIX), a key measure of market fear, rose 0.31 points, or 1.77 percent, to 17.79. European Markets Show Resilience European indices largely bucked the downtrend, with Germany's DAX (^GDAXI) climbing 286.22 points, or 1.20 percent, to 24,073.67. France's CAC 40 (^FCHI) added 27.20 points, or 0.35 percent, reaching 7,723.47, and the EURO STOXX 50 (^STOXX50E) gained 52.73 points, or 1.00 percent, closing at 5,341.54. UK Markets Drift Lower The UK's FTSE 100 (^FTSE), however, edged down 16.38 points, or 0.19 percent, to 8,806.53. Asia and Pacific Markets Mixed In Asia, Japan's Nikkei 225 (^N225) fell 223.20 points, or 0.56 percent, to 39,587.68, while Australia's S&P/ASX 200 (^AXJO) dipped 13.70 points, or 0.16 percent, to 8,589.30. Hong Kong's Hang Seng Index (^HSI) slipped 28.23 points, or 0.12 percent, to 23,887.83. On the upside, South Korea's KOSPI (^KS11) rose 5.19 points, or 0.17 percent, to 3,059.47. Commodities and Currencies The U.S. Dollar Index ( strengthened, gaining 0.37 points, or 0.38 percent, to 97.55. Meanwhile, the Japanese Yen Currency Index (^XDN) fell 0.50 points, or 0.73 percent, to 68.45, and the Australian Dollar Currency Index (^XDA) dropped 0.80 points, or 1.21 percent, to 64.91. Latin America and Emerging Markets Brazil's IBOVESPA (^BVSP) tumbled 1,773.86 points, or 1.26 percent, to 139,489.70, while Mexico's IPC (^MXX) lost 488.29 points, or 0.84 percent, closing at 57,489.47. Argentina's MERVAL (^MERV) declined sharply by 28,762.88 points, or 1.38 percent, to 2,049,934.12. Investors remain cautious ahead of key economic data and central bank decisions later in the week. Market participants will closely monitor inflation figures and employment reports for further direction. U.S. Markets UK and European Markets FTSE 100 (^FTSE): 8,806.53 ▼ 16.38 (↓ 0.19 percent) DAX (^GDAXI): 24,073.67 ▲ 286.22 (↑ 1.20 percent) CAC 40 (^FCHI): 7,723.47 ▲ 27.20 (↑ 0.35 percent) EURO STOXX 50 (^STOXX50E): 5,341.54 ▲ 52.73 (↑ 1.00 percent) Euronext 100 (^N100): 1,576.47 ▲ 6.65 (↑ 0.42 percent) BEL 20 (^BFX): 4,487.49 ▲ 2.45 (↑ 0.05 percent) Asia and Pacific Markets Hang Seng Index (^HSI): 23,887.83 ▼ 28.23 (↓ 0.12 percent) Nikkei 225 (^N225): 39,587.68 ▼ 223.20 (↓ 0.56 percent) S&P/ASX 200 (^AXJO): 8,589.30 ▼ 13.70 (↓ 0.16 percent) All Ordinaries (^AORD): 8,826.40 ▼ 15.50 (↓ 0.18 percent) KOSPI (^KS11): 3,059.47 ▲ 5.19 (↑ 0.17 percent) TWSE (^TWII): 22,428.72 ▼ 118.78 (↓ 0.53 percent) STI Index (^STI): 4,031.86 ▲ 18.24 (↑ 0.45 percent) IDX Composite (^JKSE): 6,900.93 ▲ 35.74 (↑ 0.52 percent) FTSE Bursa Malaysia KLCI (^KLSE): 1,537.54 ▼ 12.65 (↓ 0.82 percent) S&P/NZX 50 (^NZ50): 12,764.95 ▼ 1.65 (↓ 0.01 percent) Middle East & Africa TA-125 (^ 3,097.79 ▼ 15.87 (↓ 0.51 percent) EGX 30 (^CASE30): 33,037.60 ▲ 123.90 (↑ 0.38 percent) Top 40 USD Net TRI (^ 5,433.72 ▼ 22.65 (↓ 0.42 percent) Americas (Ex-U.S.) S&P/TSX Composite (^GSPTSE): 27,020.28 ▼ 15.88 (↓ 0.06 percent) IBOVESPA (^BVSP): 139,489.70 ▼ 1,773.86 (↓ 1.26 percent) IPC Mexico (^MXX): 57,489.47 ▼ 488.29 (↓ 0.84 percent) S&P IPSA (^IPSA): 8,257.14 ▼ 28.15 (↓ 0.34 percent) MERVAL (^MERV): 2,049,934.12 ▼ 28,762.88 (↓ 1.38 percent) Currency & Global Indices U.S. Dollar Index ( 97.55 ▲ 0.37 (↑ 0.38 percent) MSCI Europe (^125904-USD-STRD): 2,427.20 ▲ 2.60 (↑ 0.11 percent) British Pound Index (^XDB): 136.01 ▼ 0.47 (↓ 0.35 percent) Euro Currency Index (^XDE): 117.09 ▼ 0.47 (↓ 0.40 percent) Japanese Yen Index (^XDN): 68.45 ▼ 0.50 (↓ 0.73 percent) Australian Dollar Index (^XDA): 64.91 ▼ 0.80 (↓ 1.21 percent) Key Takeaways U.S. markets led declines, with the Dow and S&P 500 both falling nearly 1 percent following new tariffs. European stocks outperformed, with Germany's DAX surging 1.2 percent. Asia was mixed, with slight gains in South Korea and Singapore offset by losses in Japan and Australia.
