The S&P/TSX Composite slipped 0.6% to close at 27,761 on Thursday retreating from its record high as consumer discretionary losses outweighed strength in gold miners amid a mixed round of corporate results and weighed the impact of US tariff implementation. Manulife fell 3.9% after a disappointing Q2 report, Brookfield dropped 3.8% and Nutrien tumbled 4% following lacklustre second-quarter performance. Shopify gave back 2.5% on profit-taking after yesterday’s 21.5% surge. By contrast, Barrick Mining added 1.6% on firmer bullion prices. On the economic front, Canada’s Ivey PMI surprised to the upside at 55.8 in July, the fastest pace of expansion in a year and above forecasts of 55.2, signalling solid private-sector activity despite tariff headwinds.