By Adriano Marchese
Toronto stocks started off the shortened week on a downward trend, easing slightly from earlier lows. On the macroeconomic front, Canadian inflation cooled rapidly last month to 1.6%, below the central bank’s target, leaving the door open to larger interest rate cuts before the end of the year. Meanwhile, wholesale trade fell by 0.6% in August, driven by lower sales of vehicles and part and agriculture supplies.
Sector performance was mixed, with health tech, consumer services and health services advancing the most. Energy was the biggest decliner by far, followed by process industries and manufacturing stocks.
At midday, Canada’s S&P/TSX Composite Index were 0.2% lower at 24435.13. The blue-chip S&P/TSX 60 fell by 0.1% to 1462.41.
Shares of Canadian energy companies retreated after reports suggested that Israel assured the U.S. that it wouldn’t target Iran’s oil or nuclear sites. The news sends…
