Canada: TSX Dips From Record High.

The S&P/TSX Composite slipped 0.3% to close at 27?314 on Friday, retreating from record highs as heavy losses among railways and air carriers outweighed strength in energy and utilities. Canadian Pacific Kansas City plunged 3.6% and Canadian National tumbled 2.4%, leading the decline after both warned that softer US manufacturing activity, flat intermodal volumes and weaker phosphate and potash exports will shave freight tonnage into year-end, an assessment confirmed by Transport Canada’s data showing year-on-year declines in grain-handling traffic. On the trade front, Prime Minister Mark Carney has dispatched envoys to Washington for final talks with President Trump ahead of the August?1st steel and aluminum-tariff deadline, and International Trade Minister Maninder Sidhu signaled progress in Mercosur negotiations, moves seen as crucial to insulating Canada’s industrial backbone from looming duties. Despite Friday’s dip, the index still notched a 1.1% gain over the week.