Canada’s S&P/TSX Composite fell 0.63% to 35,235.87 on Wednesday, ending September down 2.9% and snapping a five-month winning streak. Softer-than-expected US inflation data was assessed by investors as mining and other sectors declined.
The S&P/TSX Composite Index fell 0.63% to 35,235.87 at the close, leaving it down 2.9% for September. The benchmark snapped a five-month winning streak after a volatile month marked by rising global bond yields, a Federal Reserve rate hike and escalating Canada-US trade tensions.
Mining shares fell 1% as gold and silver declined, while healthcare dropped more than 2%; Curaleaf Holdings fell over 7%. Energy and telecoms led gains. Ag Growth International soared almost 28% after saying it had achieved covenant relief on its financing.
US stock indexes rose as cooler-than-expected inflation data reduced expectations of another Federal Reserve rate hike next month. First Quantum Minerals initially slumped 31% after Panama’s government recommended an orderly closure of its Cobre Panama mine, then recovered about half its losses. The TSX was on track for a ninth straight quarterly gain, its longest such streak on record.
