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Stocks Lag by Noon

Equinox Gold, Canopy Growth in Focus

Stocks in Toronto fell on Thursday, as a surprise interest rate hike by the central bank continued to pressure technology stocks, while strength in shares of precious metal miners kept a lid on declines.

The TSX gave up 43.96 points to move toward noon hour Thursday at 19,939.73.

The Canadian dollar inched up 0.11 cents to 74.88 cents U.S.

Golds proved the strongest of the gaining subgroups, with Equinox Gold better by 23 cents, or 3.6%, to $6.57, while Centerra Gold took on 19 cents, or 2.4%, to $8.06.

Health-care stocks dragged on the market, with Canopy Growth doffing three cents, or 3.1%, to 95 cents, while Tilray settled seven cents, or 3%, to $2.24.


The TSX Venture Exchange skidded 2.75 points to 609.53.

Eight of the 12 TSX subgroups remained lower midday, with health-care and communications each down 1.3%, while industrials were off 0.9%.

The four gainers were led by gold, up 1.3%, materials improving 0.7%, and consumer discretionary stocks, edging up 0.2%.


Stocks ticked higher Thursday as the market tried to build on its recent gains, and traders looked ahead to key inflation data next week as well as the Federal Reserve’s latest policy announcement.

The Dow Jones Industrials gained 82.89 points to break for lunch Thursday at 33,747.91.

The much-broader S&P 500 surged 15.87 points to 4,283.39.

The NASDAQ index rose 119.97 points to 13,224.86.

Amazon led tech shares higher after bullish analyst commentary.

New weekly jobless claims data released on Thursday showed initial jobless claims reached their highest level since October 2021, indicating a potentially softening labour market. The uptick also raised expectations the Federal Reserve would pause its rate-hiking campaign at its meeting next week.

Markets are pricing a 76% chance that the Fed keeps rates steady at the next meeting, according to the CME FedWatch Tool.

Prices for the 10-year Treasury gained ground, dropping yields to 3.73% from Wednesday’s 3.79%. Treasury prices and yields move in opposite directions.

Oil prices slid $1.28 to $71.25 U.S. a barrel.

Gold prices shot higher $23.20 to $1,981.60 U.S. an ounce.