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TSX ends down 0.2% at 22,259.17
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Materials group falls 0.8% as gold declines
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Technology ends 0.5% lower
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Premium Brands Holdings ( PRBZF ) rises on Q1 results
(Updates at market close)
By Fergal Smith
May 13 (Reuters) - Canada's main stock index ended lower
on Monday, weighed by declines for technology and gold mining
shares, as investors turned cautious ahead of a key U.S.
inflation report this week.
The Toronto Stock Exchange's S&P/TSX composite index
ended down 49.76 points, or 0.2%, at 22,259.17, its
second straight day of declines after it notched a new record
closing high on Thursday.
"We're coming off some pretty positive days," said Michael
Sprung, president at Sprung Investment Management, adding that
investors could be taking some profits ahead of a long weekend
in Canada and U.S. inflation data.
"It might be a quieter week until some of this U.S. data
comes out," Sprung said.
U.S. stock indexes were a mixed bag, with the S&P 500
staying shy of its March record high as investors waited for the
U.S. consumer price index report on Wednesday for clues on
prospects for Federal Reserve interest rate cuts this year.
The materials group, which includes metal miners
and fertilizer companies, fell 0.8% as the price of gold
declined 1%.
Energy edged down 0.2% despite oil settling 1.1%
higher at $79.12 a barrel. Investors were watching for potential
oil supply disruptions in Western Canada due to wildfires.
Technology was down 0.5% and industrials
ended 0.4% lower.
Premium Brands Holdings Corp ( PRBZF ) was a bright spot. Its
shares rose 3.6% after the specialty food producer, marketer and
distributor beat estimates for first quarter results.