TSX Closer: The Index Falls as Middle East Tensions Lift Oil, Investors Eye Bank of Canada Decision
The Toronto Stock Exchange fell on Monday as investors weighed renewed geopolitical tensions in the Middle East, a sharp jump in oil prices and expectations the Bank of Canada will keep interest rates unchanged this week. The S&P/TSX Composite Index closed down 52.59 points, or 0.15%, to 35,252.72, with the majority of sectors closing higher. Energy led gainers, up 3,17%, with Battery Metals Index, Health Care, Utilities, Telecom, Industrials, and Information and Technology, up 0.50%, 1.18%, 0.10%, 0.65%, 0.14%, and 0.08%, respectively. Base Metals was down 2.58%, while Financial was down 0.37% In commodities, gold fell to its lowest level this month on Monday amid heightened inflation worries following renewed fighting between Iran and the US over the weekend. The precious metal for August delivery was last seen down $105.10, or 2.6%, to $4,008.60 per ounce, the lowest since June 24. The US on the weekend struck sites in Iran, while Tehran targeted shipping in the Strait of Hormuz and US assets in neighboring countries. Meanwhile, West Texas Intermediate (WTI) crude oil surged 9.2% on Monday to the highest in a month after the Middle East conflict escalated, fueling.
The Toronto Stock Exchange fell on Monday as investors weighed renewed geopolitical tensions in the Middle East, a sharp jump in oil prices and expectations the Bank of Canada will keep interest rates unchanged this week.
The S&P/TSX Composite Index closed down 52.59 points, or 0.15%, to 35,252.72, with the majority of sectors closing higher.
Energy led gainers, up 3,17%, with Battery Metals Index, Health Care, Utilities, Telecom, Industrials, and Information and Technology, up 0.50%, 1.18%, 0.10%, 0.65%, 0.14%, and 0.08%, respectively.
Base Metals was down 2.58%, while Financial was down 0.37% In commodities, gold fell to its lowest level this month on Monday amid heightened inflation worries following renewed fighting between Iran and the US over the weekend.
The precious metal for August delivery was last seen down $105.10, or 2.6%, to $4,008.60 per ounce, the lowest since June 24.
The US on the weekend struck sites in Iran, while Tehran targeted shipping in the Strait of Hormuz and US assets in neighboring countries.
Meanwhile, West Texas Intermediate (WTI) crude oil surged 9.2% on Monday to the highest in a month after the Middle East conflict escalated, fueling.