The S&P/TSX Composite fell 0.2% to close at 27,390 on Thursday, retreating from its record high as steep declines in major miners and financials offset gains elsewhere while investors digested fresh trade developments and mixed corporate results. After Japan secured a tariff-cut deal and EU envoys signaled progress toward a similar agreement with Washington, resource stocks failed to rally, Teck Resources reported stronger Q2 profitability yet its shares tumbled 8.7%, and mega-cap Royal Bank of Canada slipped 1.3%. In contrast, defensive and consumer-oriented names outperformed: Loblaw climbed 2.2% on better-than-expected grocery and pharmacy sales, and FirstService leapt 8.9% on robust quarterly results. The energy sector also advanced on firmer oil prices, and preliminary Statistics Canada data suggested a roughly 1.6% rebound in retail sales in June.