* TSX up 0.03%
* Miners fall as gold prices slip
* Tech up after BlackBerry soars to one-year-high
* Fairfax Financial ( FRFHF ) climbs on Q1 revenue beat
(Updates prices and details throughout)
By Tharuniyaa Lakshmi
May 4 (Reuters) - Canada's main stock index was nearly
flat on Monday, with gains in technology shares making up for
losses in miners while renewed tensions between the U.S. and
Iran lifted oil prices and pressured global equities.
At 10:53 a.m. ET, the Toronto Stock Exchange's S&P/TSX
composite index was up 0.03% at 33,900.92 points.
The technology index rose 1.6%, with BlackBerry
soaring 8% to a more-than-one-year-high.
Heavy-weight mining stocks slipped 0.3% after
gold prices fell as rising geopolitical tensions boosted the
dollar and stoked concerns about inflation that kept
expectations of higher interest rates alive.
Eldorado Gold ( EGO ), Aya Gold and Silver ( AYA ) and
Lundin Mining ( LUNMF ) were each down between 1.6% and 2.8%.
The U.S. military said two U.S. Navy guided-missile
destroyers had entered the Gulf to break an Iranian blockade and
that two U.S. ships had transited the Strait of Hormuz, after
Iran said it had prevented a U.S. warship entering the Gulf.
"There's growing concern that top-line inflation will
continue to inch higher and that interest rates may move from a
pause to rising later in the year, which is unsettling for
rate-sensitive investors," said Shiraz Ahmed, founder at
Sartorial Wealth.
The energy index also inched higher as oil prices
rose.
The benchmark index was trading about 2% below its March 2
peak, showing how the U.S.-Iran conflict has weighed on
sentiment in Canada's energy-heavy market despite some support
from firm oil prices.
On the earnings front, Fairfax financial holdings
rose 4.3% after the insurance group's first-quarter revenue grew
12.8% to $7.06 billion from a year ago and beat analyst
expectations of $7 billion.
(Reporting by Tharuniyaa Lakshmi in Bengaluru; Editing by
Shailesh Kuber and Joyjeet Das)