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Weekly Market Snapshot: TSX Near Records, Loonie Rebounds Ahead of BoC Decision

Week Ending Friday, July 10, 2026 It was a solid week for Canadian and U.S. equities, with the TSX flirting with record territory and Wall Street stringing together its fourth straight winning week. The loonie finally caught a break after a rough stretch, and overseas markets in Asia were the standout performers. Here's everything you need to know before the Bank of Canada's rate decision on July 15. 🇨🇦 Canada: TSX Near Record Highs The S&P/TSX Composite closed the week at 35,305.31 , up 104.86 points (+0.30%) on Friday alone, and near record levels after a strong two-day run. The gains were broad-based: Consumer stocks led Friday's advance. Financials were mixed to higher, with RBC, TD, and BMO all posting modest gains earlier in the week. Mining and gold names (Barrick, Agnico Eagle, Wheaton Precious Metals) pulled back slightly as gold prices eased off recent highs. Tech got a lift from the SK Hynix Nasdaq debut (more below), with Shopify and Constellation Sof...
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Drone Strike Sparks Emergency in Russian Port City

The Russian port city of Novorossiysk has declared a state of emergency following a Ukrainian drone attack that damaged residential buildings and injured at least five people, including two children. Mayor Andrei Kravchenko announced the decision on his official Telegram account, sharing images of the destruction and directing officials to respond to the crisis.

One of the injured, a woman, remains in serious condition at a local hospital. The attack also affected a grain terminal, with debris from falling drones causing damage to storage units and sparking a fire, which has since been extinguished. Authorities are assessing the full extent of the damage and providing assistance to those affected.

Ukraine has yet to comment on the incident, though its air force reported that Russia launched 183 drones and two ballistic missiles overnight. The ongoing conflict continues to escalate, with both sides engaging in aerial strikes.

This latest attack underscores the growing intensity of hostilities between Russia and Ukraine, raising concerns about civilian safety and infrastructure stability in the region.

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