April 1 (Reuters) – Canada’s main stock index traded flat on Monday, just below all-time highs, as gains in mining stocks were eclipsed by declines in communication services sector, while the latest U.S. inflation print kept the bets of a June interest rate cut on the table.
At 10:13 a.m. ET (14:13 GMT), the Toronto Stock Exchange’s S&P/TSX composite index (.GSPTSE), opens new tab was down 2.46 points, or 0.01%, at 22,164.57.
Eight of the eleven sectors on the index slipped, with communication services (.GSPTTTS), opens new tab down 1.4%.
“Markets were strong overnight that they’ve kind of been weakening. It’s not unusual (for markets) to change as the morning progresses when people get up and come into work”, said Colin Cieszynski, chief market strategist at SIA Wealth Management.
However, the materials sector (.GSPTTMT), opens new tab, which houses Canadian miners and fertilizer companies, rose 1.2% as higher gold prices sent miners…
