* TSX ends down 0.7% at 33,584.34
* Tech stocks fall, with Celestica ( CLS ) down 14.5%
* Materials group loses 3.8% as gold falls
* Energy adds 2% as oil settles 3.7% higher
(Updates at market close, adds file photos)
By Tharuniyaa Lakshmi and Fergal Smith
April 28 (Reuters) - Canada's main stock index fell on
Tuesday for a fourth straight day as declines for technology and
metal mining shares offset gains for energy.
The Toronto Stock Exchange's S&P/TSX composite index
ended down 233.85 points, or 0.7%, at 33,584.34,
marking its lowest closing level since April 19. It was the
fourth straight day of declines for the index, which is the
longest daily losing streak since December.
U.S. stocks also fell after a report that said OpenAI had
missed its internal revenue target raised fresh concerns about
the AI spending spree.
"The market has put the war in the Middle East on the back
burner, and a lot of what we're seeing is really on the back of
technology and earnings," said Allan Small, senior investment
advisor at Allan Small Financial Group with iA Private Wealth.
Shares of electronic equipment firm Celestica Inc ( CLS )
dropped 14.5% after the company reported quarterly results,
contributing to a 4.3% decline for the technology sector
.
The materials group, which includes metal mining
shares, was down 3.8% as the price of gold fell to a near
four-week low.
Barrick Mining ( B ) named Wessel Hamman as chief financial
officer of the new company that will hold its North American
assets in the run-up to its U.S IPO. Shares of Barrick were down
3.4%.
Energy added 2% as the price of oil settled
3.7% higher at $99.93 a barrel. Stalled efforts to end the Iran
war kept the Strait of Hormuz largely closed and constrained
Middle East supplies.
Economists have said that the oil price shock from the war is
unlikely to have a lasting impact on inflation, which should
allow the Bank of Canada to leave its benchmark interest rate
unchanged at 2.25% on Wednesday when the central bank is also
due to update its economic forecasts.
Canada's housing market slump, the longest in recent
decades, is straining household spending even as a record high
domestic stock market generates hundreds of billions of dollars
of increased wealth.