(Updates with morning prices)
June 24 (Reuters) -
Canada's main stock index edged higher on Tuesday after U.S.
President Donald Trump announced a ceasefire between Iran and
Israel, while losses in heavyweight mining shares kept overall
gains in check.
The S&P/TSX Composite Index advanced 0.3% at
26,686.38 points.
The truce, however, remained shaky as Trump accused both
nations of violating the ceasefire agreement.
Israel acknowledged that it hit Iran's radar in retaliation
for Iranian missile launches but said it had refrained from
attacks beyond that.
Tehran has rejected accusations of breaching the truce.
"It's going to remain choppy just because there's going
to be volatile news...every hour there's news released one on
top or the other that's moving markets," said Josh Sheluk,
portfolio manager at Verecan Capital Management.
On the TSX, mining stocks fell 1.8% after gold
prices declined nearly 2%.
Gold miners were among the top decliners on the index,
with G Mining ( GMINF ) and SSR Mining ( SSRGF ) falling 5.4%
and 4.9%, respectively.
The energy sector lost 0.3%, tracking a fall
in oil prices.
On the flip side, information and technology
rose 1.6%.
Shares of e-commerce firm Shopify ( SHOP ) gained 4%,
rising for the third straight day and offering the biggest boost
to the benchmark index.
Canada's annual inflation remained unchanged at 1.7% in May,
with a drop in gasoline costs keeping the overall index stable.
May and June's inflation data, expected before the Bank of
Canada's policy meeting in July, will be factored into any rate
decision on July 30.
Canada and Europe agreed to deepen security ties ahead of
the NATO summit in the Hague.