Canadian Market Marginally Down In Cautious Trade

(RTTNews) - Canadian stocks are turning in a mixed performance on Monday with investors digesting the nation's inflation data and closely following the developments on the geopolitical front.

After U.S. seized an Iranian vessel near the Strait of Hormuz, Tehran launched drone attacks on U.S. military ships, raising concerns about oil supplies.

Middle East tensions rose after Iran rejected participation in a second round of peace talks with the U.S., citing Washington's excessive demands, unrealistic expectations, constant shifts in stance, repeated contradictions, and the continuing naval blockade, which it considers a breach of the ceasefire.

Healthcare stocks are faring well. A few stocks from energy, technology and consumer sectors are up with strong gains. Materials stocks are weak, weighed down by lower metal prices. Real estate stocks are also weak.

The benchmark S&P/TSX Composite Index was down 47.53 points or 0.14% at 34,298.76 nearly half an hour past noon.

Data from Statistics Canada showed the headline inflation rate in Canada surged to 2.4% in March from 1.8% in the previous month. The CPI rose 0.9% from the previous month amid a 21.2% surge in gasoline costs.

Canada's annual core inflation, which strips out eight of the most volatile components including food, energy, and mortgage interest costs, rose to 2.5% in March, after hitting an 11-month low of 2.3% in February. On a monthly basis, core consumer prices went up by 0.2%, following a 0.4% increase in the prior month.

BlackBerry soared more than 14%. Superior Plus zoomed 13.4%. Gran Tierra Energy, Parex Resources, Baytex Energy, Interfor, BRP, Vermilion Energy, Badger Infrastructure Solutions, Tilray, Enerflex and TFI International gained 2%-6%.

Silvercorp Metals tumbled nearly 7%. Iamgold, Seabridge Gold, Eldorado Gold, Lundin Gold, Wheaton Precious Metals, Dundee Precious Metals, Agnico Eagle Mines, Fortuna Silver Mines and CAE lost 2%-4%.