Equities in Canada’s largest centre fell back by noon EDT on Wednesday, as strength in energy stocks was offset by weakness in real estate, while investors awaited more cues on the interest rate cut trajectory in the U.S. and Canada.
The TSX Composite Index stepped backward 66.81 points to pause for lunch at 21,544.49.
The Canadian dollar edged up 0.01 cents to 72.97 cents U.S.
Energy shares gained the most, with a 0.4% rise, after oil prices hit seven-week highs on summer demand optimism and escalating geopolitical conflict concerns. Enerplus shares handed back 93 cents to 3.4%, to $26.78, while Whitecap Resources docked nine cents to $9.94.
Interest rate-sensitive sectors, like real estate and healthcare declined also. Units of H&R REIT lost eight cents to $8.76, while shares in Bausch Health Companies fell 21 cents, or 2.4%, to $8.66.
Oil prices gained six cents to $81.63 U.S. a barrel.
Gold prices sank $4.20 to $2,341.40 U.S. an ounce.
ON BAYSTREET
The TSX Venture Exchange shed 2.33 points to 573.36.
All 12 subgroups lost ground, with health-care fading 0.8%, industrials and consumer staples each tumbling 0.6%,
ON WALLSTREET
Markets south of the border are shuttered Wednesday for the “Juneteenth” holiday. They will re-open Thursday.
