The S&P/TSX Composite fell 0.79 percent Friday as a drop in gold dragged materials stocks lower and TELUS slid on its dividend cut, even though the index still closed July up 1.1 percent for a fourth straight monthly gain. Gold has since recovered above Friday's level while crude oil remains below its Friday close, leaving Tuesday's reopening to price a reversed commodity backdrop against Monday's record close on US benchmarks.
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