Toronto Stocks Lower as BoC Holds Rate Steady, Agnico Eagle Mines Up on Swedish Project Stake

Dow Jones01-29

By Adriano Marchese

Toronto-listed stocks were slightly lower, pulling back from earlier gains.

Most sectors were in decline Wednesday. Tech services, consumer discretionary and process industries were the main laggards. Materials and tech were among the few gainers of the session.

The Bank of Canada kept its policy rate unchanged at 2.25% in a second consecutive decision. The central bank has also warned the level of uncertainty stemming from U.S. trade policy and geopolitical risks has ramped up.

Canada's S&P/TSX Composite Index fell 0.1% to 33066.32 and the blue-chip S&P/TSX 60 fell 0.1% to 1904.80.

Shares in Agnico Eagle Mines rose 2.8% to 301.65 Canadian dollars ($222.21) after it said it will secure a bigger stake in gold explorer Goldsky Resources as part of a deal to sell its majority interest in a Swedish project to the smaller company.

Other market movers:

CGI posted higher first-quarter profit as rising revenue was boosted by demand for artificial intelligence-related work but noted that bookings were dragged by the 43-day long U.S. government shutdown during the quarter. Shares fell 4.5% to C$114.45.

Cipher Pharmaceuticals said Canadian regulators have agreed to review its application to market Natroba for treating head lice and scabies, matching its approved uses in the U.S. Shares rose 0.5% to C$14.82.

Write to Adriano Marchese at adriano.marchese@wsj.com

(END) Dow Jones Newswires

January 28, 2026 12:24 ET (17:24 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.

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Tech services, consumer discretionary and process industries were the main laggards. Materials and tech were among the few gainers of the session. \n\n\n  The Bank of Canada kept its policy rate unchanged at 2.25% in a second consecutive decision. 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