TSX up 115 Points at Midday With Miners, Telecoms, Leading Gains

12:13 PM EDT, 08/12/2025 (MT Newswires) -- The Toronto Stock Exchange is up 115 points with most sectors higher.

The biggest gainers are the mining and telecoms sectors, up 2% and 1.5%, respectively.

Utilities, is the sole decliner, down 0.25%.

Market focus was on U.S. CPI Inflation figures for July, which were "fairly neutral," suggesting slowing tariff passthrough. Tariff pass-through to consumer prices appears to be taking longer than expected, Desjardins said, noting that today's release showed further progress on inflation. This should leave the door open for Fed officials to cut rates in September.

For BMO Economics the bottom line is the heating up of inflation in July was not far off from economist forecasts. It noted services inflation really drove the price increases last month, while goods and commodity inflation remained more subdued than anticipated. This, BMO said, suggests many businesses remain reluctant to fully pass-along tariff increases for fear of losing sales to a more cautious consumer. Despite the unwelcome increase in core CPI inflation over the last two months, the Fed will likely actively consider a rate cut in September, if the labor market shows more signs of softening in August, it added.

Among individual stocks here, Canada's Gildan Activewear (GIL) may be near a deal to buy Hanesbrands, potentially valuing the U.S. innerwear-maker at about $5 billion, including debt, the Financial Times reported on Tuesday, citing people familiar with the matter. Talks are at an advanced stage, the Times added.

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