financetom
World
financetom
/
World
/
CANADA STOCKS-TSX ends flat as gold stocks drop, mood cautious ahead of rate decision
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
CANADA STOCKS-TSX ends flat as gold stocks drop, mood cautious ahead of rate decision
Apr 8, 2024 2:57 PM

*

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.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
EMERGING MARKETS-Copper-exporting currencies lag Latam peers as China plans fail to impress
EMERGING MARKETS-Copper-exporting currencies lag Latam peers as China plans fail to impress
Mar 5, 2024
* Colombia's Grupo Aval rises on higher Q4 profit * Brazil's Cogna up after rating upgrade * FX, stocks flat By Shashwat Chauhan March 5 (Reuters) - Currencies of copper-producing nations dipped on Tuesday, as copper prices came under pressure on a lack of big-ticket stimulus plans from China's ongoing annual parliament session. Top producer Chile's peso depreciated 0.3% to...
CANADA STOCKS-TSX opens higher on materials boost
CANADA STOCKS-TSX opens higher on materials boost
Mar 5, 2024
March 5 (Reuters) - Canada's main index opened higher on Tuesday, led by gains in materials stocks, while investors remained cautious ahead of the Bank of Canada's interest rate decision and economic data in the United States this week. At 9:32 a.m. ET (1432 GMT), the Toronto Stock Exchange's S&P/TSX composite index was up 25.59 points, or 0.12%, at 21,556.66....
Bitcoin hits record high on increased investor appetite
Bitcoin hits record high on increased investor appetite
Mar 5, 2024
LONDON/SINGAPORE, March 5 (Reuters) - Bitcoin hit a record high on Tuesday, fueled by investors pouring money into U.S. spot exchange-traded crypto products and the prospect that global interest rates may fall. The world's largest cryptocurrency hit a high of $69,202, topping November 2021's all-time peak of $68,999.99. Investor interest has increased since the Securities and Exchange Commission approved 11...
BMO Comments on Canada's Provincial Bonds
BMO Comments on Canada's Provincial Bonds
Mar 5, 2024
11:52 AM EST, 03/05/2024 (MT Newswires) -- Long provincial returns were negative in the past month as Government of Canada (GoC) yields edged higher and spreads widened modestly, said Bank of Montreal (BMO). The economy has held up well into 2024 and the bank has modestly upgraded the real gross domestic product (GDP) growth outlook for the year, while BMO...
Copyright 2023-2025 - www.financetom.com All Rights Reserved