*
TSX closes down 0.02%
*
Healthcare, resources stocks decline
*
Perpetua Resources receives nod for $1.8 bln loan; shares
gain
32%
(Updates with closing numbers)
By Purvi Agarwal and Divya Rajagopal
April 8 (Reuters) - Canada's main stock index ended flat
on Monday, as gains in financials and industrial stocks were
offset by losses in healthcare driven by Bausch Health ( BHC ).
Investors were cautious ahead of Wednesday's Bank of Canada
interest rate decision, when the central bank is expected to
hold rates steady, and release new economic growth projections.
The Toronto Stock Exchange's S&P/TSX composite index
was down 4.08 points, or 0.02%, at 22,260.30.
Energy and gold stocks fell, tracking losses in oil and
bullion prices. Energy and materials shares
were down 0.22% and 0.56%, respectively.
Elvis Picardo, senior portfolio manager with Luft Financial,
iA Private Wealth said investors were booking profits in energy
and gold stocks after their recent runup.
Healthcare shares declined 1.8%, pulled down
by Bausch Health ( BHC ) that lost 7% after the company
announced on Friday that it was filing a patent lawsuit against
Amneal Pharmaceuticals ( AMRX ).
Among the top movers, GoEasy Ltd ( EHMEF ) led the bourse
with a 4.4% gain.
Six of the eleven sectors traded lower on the index,
with industrial shares limiting losses with a 0.6%
gain.
The Bank of Canada is set to announce its next decision on
borrowing costs on Wednesday, where the central bank is widely
expected to leave rates unchanged.
"The last two CPI reports in Canada have been encouraging.
Still, policymakers are likely to be cautious, noting that
further progress is needed," said strategists at the National
Bank of Canada.
Investors will monitor crucial economic data in the U.S.,
due later in the week, alongside the minutes of the Federal
Reserve's last monetary policy meeting for more cues on the
timing of rate cuts in the year.
In Canadian corporate news, Perpetua Resources
gained 32% after the miner received a letter of interest from
the U.S. Export-Import Bank (EXIM) for a loan worth up to $1.8
billion to develop an antimony and gold mine in northern Idaho.