Canada's S&P/TSX Rises 0.35% as Real Estate Leads, Tariff Impact Muted

Canada’s S&P/TSX Composite Index ended a two-day slide, edging up 0.35% to 26,998.66 on July 9, with real estate stocks leading gains. Markets reacted divergently to Trump’s 50% copper tariff plan (effective as early as late July) and extended trade talks to August 1: the real estate index (.GSPTTRE) rose 0.5% on H&R REIT’s (HR_u.TO) 4.7% surge amid Blackstone acquisition talks.

Tech (.SPTTTK) and healthcare (.GSPTTHC) added 0.4% and 0.7% respectively, while energy (.SPTTEN) dipped 0.4% and mining (.GSPTTMT) was flat—copper miner Ero Copper (ERO.TO) plunged 6.2% on tariff fears. Investors weighed domestic resilience: Canadian firms are accelerating non-U.S. trade expansion, with Friday’s jobs data seen as key to gauging economic stamina.

Verecan Capital’s Colin White noted trade policies will trigger "short-term volatility," but Canada’s 2.1% inflation—near recent lows—gives the central bank policy flexibility. EQB Bank (EQB.TO) rose 1.6% on news of executive returns, while software firm OpenText (OTEX.TO) dropped 4.8% following a finance executive’s departure.