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CANADA STOCKS-TSX ends lower as gold falls, investors take profits
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CANADA STOCKS-TSX ends lower as gold falls, investors take profits
May 13, 2024 2:02 PM

*

TSX ends down 0.2% at 22,259.17

*

Materials group falls 0.8% as gold declines

*

Technology ends 0.5% lower

*

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.

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