The Toronto stock market experienced a minor slump midday Tuesday, as investors braced for the upcoming interest-rate decision from Canada’s central bank on Wednesday. The consensus among market watchers is that the rate will hold steady at 5%.
The S&P/TSX Composite Index and the S&P/TSX 60 both recorded losses, falling by 0.06% and 0.12% respectively. The downturn was particularly noticeable in the energy, financial, industrials, and materials sectors.
Shares of Teck Resources (NYSE:), a mining company, fell sharply by 7.1%. This significant drop was attributed to an increase in projected costs for its Chilean mine and disappointing quarterly earnings. TFI International (NYSE:), a transport and logistics company, also saw its shares decline by 6.9% due to weaker end-market demand in the third quarter.
On the other hand, consumer discretionary and real estate sectors witnessed some advancement amidst the broader market’s downturn. Notably, shares of CAE (NYSE:), a provider of training services in the aviation and healthcare sectors, rose by 2.3% following the announcement of the sale of their healthcare business.
As investors await Wednesday’s interest-rate decision from the central bank, all eyes will be on its potential impact on various sectors within the Toronto stock market.
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