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CANADA STOCKS-TSX slips as technology, gold stocks drag
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CANADA STOCKS-TSX slips as technology, gold stocks drag
May 13, 2026 8:33 AM

* TSX down 0.5%

* Technology index declines 2%

* Miners drop as gold slides

(Updates prices and details throughout)

By Sruthi Shankar

May 13 (Reuters) - Canada's main stock index fell on

Wednesday as technology stocks and gold miners came under

selling pressure while investors watched developments around the

Middle East conflict and U.S. President Donald Trump's visit to

China.

The Toronto Stock Exchange's S&P/TSX Composite index

dipped 0.5% to 34,128.67 points at 11:03 a.m. ET. It

closed at a three-week high on Tuesday.

Technology stocks dropped 2% to touch a one-month

low. Shares of microchip maker Celestica ( CLS ), content and

technology company Thomson Reuters ( TMSOF ) and software firm

OpenText fell 2.6% to 4.7% each.

The index has fared the worst on TSX this year, declining

nearly 20%.

The Canadian technology sector is seen more a victim of

artificial intelligence than a beneficiary given a high

concentration of software companies, Brian Madden, CIO at First

Avenue Investment Counsel said.

"It was down a lot in the first quarter and hasn't really

recovered quite as smartly as the U.S. tech sector has."

The broader Canadian equities markets traded just below

their March 2 record high, helped by an upbeat earnings season

largely driven by energy companies and miners.

Oil prices were largely unchanged but held

above $100 a barrel as investors monitored a fragile Middle East

ceasefire and awaited a high-stakes summit in Beijing between

Trump and China's Xi Jinping.

Energy stocks were steady.

Gold miners, however, fell 1.4% as prices of the

precious metal dropped after hotter-than-expected U.S. producer

prices data reinforced expectations of a tighter monetary

policy.

Equinox Gold ( EQX ) shares fell 3.6% after the company

said it would acquire Orla Mining ( ORLA ) in an all-stock deal

to create a North American gold producer worth about $18.5

billion. Orla shares dipped 0.7%.

Shares of Boyd Group, which runs autobody and auto

glass repair facilities across North America, slumped 12% after

the company missed analysts' expectations for first-quarter

sales.

(Reporting by Tharuniyaa Lakshmi and Sruthi Shankar in

Bengaluru; Editing by Joyjeet Das)

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