Equities in Canada’s largest centre listed lower by the close on Thursday, as falling health-care and technology stocks weighed matters, while renewed Middle East concerns as Iran ?tightened its grip on the Strait of Hormuz also weighed on investor sentiment.
The TSX Composite Index tumbled 42.18 points to greet the closing bell Thursday at 33,912.93.
The Canadian dollar backed off 0.15 cents at 73.01 cents U.S.
Iran on Thursday released a video of its commandos storming a huge cargo ship, demonstrating its tighter control of the critical waterway after the collapse of peace talks with the U.S., sending Brent crude prices back above $100 a barrel.
Oil prices extended gains on the renewed uncertainty, rising more than 1% as stalled peace talks showed no signs of restarting and traffic through the ?critical strait remained restricted.
Teck Resources beat analysts' estimates for first-quarter profit, aided by ?an increase in copper prices ?and record sales. Teck shares surged $2.26, or 2.7%, to $83.21.
Health-care proved the biggest anchor on the market, as Curaleaf fell $1.21, or 23.1%, to $4.03, while Bausch Health Companies dipped 20 cents, or 2.7%, to $7.59.
Among technology stocks, Shopify dived $11.37, or 6.3%, to $169.23, while Constellation Software jettisoned $152.49, or 6.8%, to $2,449.01, as weak first quarter results from U.S. software firms weighed on sentiment.
In the mining sector, Avino Gold & Silver lost 42 cents, or 4.2%, to $9.59, while Novagold pointed downward 56 cents, or 4.4%, to $12.06.
Industrials pointed upward, however, as Mullen Group acquired $1.19, or 6.5%, to $19.39. ?Waste Connections rose $17.65, or 8.3%, to $231.36.
In utilities, Altagas grew $1.53, or 3.2%, to $49.74, while Canadian Utilities poked $1.11 or 2.4%, to $48.24.
Energy rumbled ahead, as PrairieSky Royalty captured 79 cents, or 2.5%, to $32.75, while Paramount Resources added 56 cents, or 3.1%, to $28.58.
Statistics Canada reported its industrial product price index increased 2.4% month over month in March and gained 7.8% year over year, while its raw materials price index increased by 12.0% month over month and rose 23.6% year over year.
ON BAYSTREET
The TSX Venture Exchange swooned 30.63 points, or 2.9%, to 1,020.23.
Still, eight of the 12 TSX subgroups ended the day higher, as industrials advanced 2.7%, utilities surged 1.7%, and energy stocks grabbed 1.8%.
The four laggards were weighed most by health-care, fumbling 6.9%, information technology, waning 4.8%,%, and gold, dulling 2.4%.
ON WALLSTREET
Stocks pulled back on Thursday, led by a drop in software and higher oil prices, with investor uncertainty toward the trajectory of the Iran war hovering over the market.
The Dow Jones Industrial Average remained in the red 47.66 points to 49,310.32.
The S&P 500 index stumbled 29.51 points to 7,108.39.
The NASDAQ slid 219.06 points to 24,438.50.
Still, geopolitical relations in the region remain tense. A lack of commitment from Iran reportedly resulted in Vice President J.D. Vance pausing his trip to join peace talks.
Iran state media also reported that Tehran negotiators said they wouldn’t be present, calling talks with the U.S. a “waste of time.” And on Wednesday, Iran’s navy said that it had seized two container ships in the Strait of Hormuz.
Trump has also ordered the Navy to “shoot and kill any boat” laying mines along the strait.
Prices for the 10-year Treasury dropped, raising yields to 4.32% from Wednesday’s 4.31%. Treasury prices and yields move in opposite directions.
Oil prices jumped $3.47 to $96.43 U.S. a barrel.
Gold prices took a header, $36.90, to $4,716.30 U.S. an ounce.
