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Ukraine Claims Russian Summer Offensive Falls Short of Strategic Goals

A firefighter works at the site of an apartment building hit during a Russian drone and missile strike, amid Russia's attack on Ukraine, in Zaporizhzhia, Ukraine in this handout picture released August 30, 2025. Ukraine’s armed forces have declared that Russia’s much-publicized summer offensive failed to secure full control of any major Ukrainian city, despite Moscow’s claims of significant territorial gains. Russian Chief of General Staff Valery Gerasimov stated that since March, Russian forces had captured over 3,500 square kilometers of territory and taken control of 149 settlements. However, Ukraine’s General Staff dismissed these figures as “grossly exaggerated,” asserting that no major urban centers were fully occupied by Russian troops. Military analysts note that Russia’s campaign, aimed at seizing the Donbas region and forcing Ukraine into concessions, devolved into a slow, attritional struggle rather than the decisive breakthrough Moscow had anticipated. While Russian ...
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TSX Slips from Record High Amid Trade Deal Uncertainty and Sector Pressures

 


Toronto Stock Exchange Retreats as Investors Weigh U.S.-EU Trade Deal

Canada’s main stock index, the S&P/TSX Composite, pulled back from its record high on Monday, closing down 0.5% at 27,356.44 points. The retreat was driven largely by declines in mining stocks and investor caution surrounding a newly announced trade framework between the United States and the European Union.

Sector Performance Highlights

  • Mining stocks dropped 2.4%, with New Gold falling 6.6% after releasing its Q2 earnings.
  • Energy stocks rose 1.2%, buoyed by higher oil prices.
  • Financials and consumer discretionary sectors also saw declines, reflecting broader market unease.

Trade Deal Impact The U.S.-EU trade agreement, announced Sunday, includes a 15% tariff on most EU goods and a commitment from the EU to invest approximately $600 billion in the U.S.. While the deal aims to avert a tariff escalation ahead of the August 1 deadline, uncertainty remains, especially regarding Canada’s role. President Trump hinted that a U.S.-Canada trade agreement may not be imminent, raising concerns among Canadian investors.

Looking Ahead Investors are now turning their attention to upcoming central bank decisions and earnings reports from major tech firms. The U.S. Federal Reserve and Bank of Canada are both expected to maintain current interest rates, but market participants will be watching closely for signals of future policy shifts.

The TSX’s retreat underscores the market’s sensitivity to global trade developments and sector-specific pressures. With volatility likely to persist, investors remain cautious as they navigate a complex economic landscape.

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