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TSX Down After Several Days of Big Gains

BoC Announcement on Most Radar Screens

Equities in Toronto took a breather from the dizzy heights of the last few days, and slid somewhat Monday, as markets looked avidly forward to word from the Bank of Canada on interest rates.

The TSX Composite sank 42.66 points to close Monday at 20,410.21.

The Canadian dollar dipped 0.28 cents at 73.85 cents U.S.

The BoC is widely expected to hold its interest rate steady on Wednesday amid growing expectations that the Canadian central bank is likely done with the hikes after the latest data showed the country's inflation eased more than expected.

Gold proved the most negative of the bunch Monday, with Iamgold handing back 17 cents, or 4.8%, to $3.40, while B2Gold shed 19 cents, or 4.1%, to $4.44.

In other resource stocks, Endeavour Silver lost 22 cents, or 7.2%, to $2.84, while Lithium American Argentina lost 26 cents, or 3.5%, to $7.23.

In energy, Athabasca Oil dropped 21 cents, or 5.5%, to $3.62, while Baytex Energy faltered 21 cents, or 4.1%, to $$3.62.

Health-care issues tried to balance things out, with Tilray soaring 21 cents, or 8.2%, to $2.78, while Bausch Health Companies surging 17 cents, or 1.7%, to $10.10.

In the communications field, Cogeco Communications vaulted $2.19, or 4.1%, to $55.89, while TELUS Corp. acquiring 28 cents, or 1.1%. to $25.26.

Real-estate stocks showed strength, H&R REIT picking up 15 cents, or 1.6%, to $9.29, while Riocan REIT units pointed upward 21 cents, or 1.2%, to $18.02.


The TSX Venture Exchange dipped 2.31 points to 543.95.

Seven of the 12 TSX subgroups gained ground, with health-care leading the way, up 2.1%, communications, up 0.9%, and real-estate, ahead 0.6%.

The five laggards were weighed most by gold, dulling in price 2%, while energy and materials were each down 1.7%.


Stocks slipped on Monday as investors questioned whether the market was getting ahead of itself following five straight winning weeks.

The Dow Jones Industrials descended 41.06 points at 36,204.44.

The S&P 500 lost 24.85 points to 4,569.78.

The NASDAQ tumbled 119.54 points to 14,185.49, as investors sold Big Tech shares, which have led the market’s gains this year.

Marathon Digital and Riot Platforms each jumped more than 8% as bitcoin advanced. Microstrategy and Coinbase added 6.7% and 5.5%, respectively.

Alaska Air Group dropped 14.2% after it agreed to acquire rival Hawaiian Airlines for $1.9 billion. The move is part of Alaska’s efforts to expand along the West Coast.

Monday’s moves mark a pullback following a strong period in the market. Technology shares struggled in the session. Nvidia slid more than 2%, while Microsoft and Meta each lost more than 1%.

Prices for the 10-year Treasury stumbled, raising yields to 4.26% from Friday’s 4.21%. Treasury prices and yields move in opposite directions.

Oil prices gave back 79 cents to $73.28 U.S. a barrel.

Gold prices lost $42.80 to $2,046.90.

NASDAQ Slides After Last Week’s Gain