Equities in Canada’s largest market faded Monday from the previous day’s closing, as financial stocks took a hit.
The TSX cratered 303.53 points to conclude Monday at 34,960.32.
The Canadian dollar slid 0.22 cents to 71.1 cents U.S.
Financial stocks were among the biggest decliners, led by Canadian Imperial Bank of Commerce, down $3.44, or 2.8%, to $117.80, and National Bank of Canada, down $6.43, or 2.8%, to $227.65.
The healthcare sector was dragged by losses in Bausch Health Companies, declining 17 cents, or 2.5%, to $6.61, and Curaleaf Holdings ditching nine cents to $13.05.
Celestica was among the top gainers, picking up $10.04, or 2.4%, to $431.86. Shopify was up $1.94, or 1.1%, to $175.17. and Tecsys collected 40 cents, or 1.2%, to $33.90.
On the economic slate, Statistics Canada reported the consumer price index increased 2.8% year over year in June, following a 3.2% gain in May. On a seasonally adjusted monthly basis, the CPI fell 0.1% in June.
ON BAYSTREET
The TSX Venture exchange sank 5.12 points to 849.77.
Six of the 12 TSX subgroups had gone down the ladder by the end of the day, weighed most by financials, down 1.7%, while health-care suffered 1.3%, and industrials were 1% lower.
The five gainers were led by information technology, progressing 1.4%, energy, better by 0.8%, and materials, jumping 0.6%.
Consumer discretionary stocks were unchanged by the close.
ON WALLSTREET
The S&P 500 fell on Monday as oil prices advanced in response to the latest bout of military exchanges between the U.S. and Iran. Chipmakers also traded higher to give U.S. equity markets a boost.
The Dow Jones Industrials tumbled 305.14 points to 51,841.28
The much broader index lost 14.22 points to 7,443.47
The NASDAQ Composite removed 12.17 points to 25,508.07.
Micron Technology was a key leader of the advance, climbing more than 1%. Astera Labs gained more than 2%, while Teradyne rose 3%. Advanced Micro Devices added around 2%.
The U.S. completed its ninth consecutive day of strikes on Iran overnight, but investor sentiment improved by midmorning in London after Iranian Foreign Ministry spokesman Esmail Baghaei lifted hopes for a diplomatic settlement.
Baghaei told reporters that intermediaries had continued to exchange messages with Iran amid the latest round of U.S. strikes, and said negotiations between the two adversaries could be pursued based on national interests.
That said, U.S. crude futures were last little changed at around $82 per barrel, reversing an earlier gain. International benchmark Brent also eased from levels seen overnight, trading up marginally at nearly $88.
Prices for the 10-year Treasury backpedaled, raising yields to 4.59% from Friday’s 4.55%. Treasury prices and yields move in opposite directions.
Oil prices gained 60 cents to $83.09 U.S. a barrel.
Gold prices retreated six dollars to $4.012.80 U.S. an ounce.
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