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TSX ends down 0.1% at 22,243.34

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Energy falls 0.9% as oil settles 1.4% lower

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Materials sector advances 1.8%

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Hudbay Minerals ( HBM ) rises on Q1 profit beat

(Updates at market close)

By Fergal Smith

May 14 (Reuters) - Canada's main stock index ended lower

for a third straight day on Tuesday as a drop in oil prices

weighed on energy shares and investors awaited a key U.S.

inflation report that could shape expectations for Federal

Reserve interest rate cuts.

The Toronto Stock Exchange's S&P/TSX composite index

ended down 15.83 points, or 0.1%, at 22,243.34,

extending its decline since notching a record closing high on

Thursday.

"Not doing quite as well as the U.S. market today. I suspect

that's mostly a drag from energy because the oil price is down

today," said Colin Cieszynski, chief market strategist at SIA

Wealth Management.

Wall Street's main indexes rose as investors assessed a

mixed producer prices report and awaited crucial consumer prices

data expected early on Wednesday.

The energy sector was down 0.9% as the price of

oil settled 1.4% lower at $78.02 a barrel and investors watched

wildfires in remote western Canada that could disrupt oil

supplies.

Industrials were also a drag, falling 0.6%, and

the utilities sector, which includes many

high-dividend paying stocks that could particularly benefit from

rate cuts, was down 0.5%.

Gains for the materials sector, which includes

precious and base metals miners and fertilizer companies, helped

limit the TSX's decline. The sector rose 1.8% as gold and copper

prices climbed and after Hudbay Minerals Inc ( HBM ) beat

first-quarter profit estimates.

Shares of Hudbay Minerals ( HBM ) rose 14.1%, while BlackBerry Ltd ( BB )

shares were up 11.8% following a meme stocks trading

frenzy reminiscent of a similar rally in January 2021.