Despite rising crude oil prices, Canadian equities struggled to gain traction at the start of the week, with bond yields climbing to their highest in over two months. This spike in yields apparently reignited concerns about high borrowing costs amid inflationary pressures, causing investors to pull back. The S&P/TSX Composite Index gave up 60 points, or 0.2%, on Monday to settle at 24,103.
Although a 3.8% intraday increase in West Texas Intermediate crude oil futures prices drove energy stocks higher, big declines in most other key sectors, including utilities, healthcare, and technology, dragged the TSX lower.
Top TSX Composite movers and active stocks
Shares of IAMGOLD (TSX:IMG) and Fortuna Mining (TSX:FVI) nosedived by at least 8.6% each, making them the worst-performing TSX Composite components for the day. This selloff in IMG and FVI stocks followed investor concerns over recent media reports regarding…
