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By Reuters Staff
2 Min Read
May 18 (Reuters) - Canada’s main stock index was flat on Tuesday as losses in energy firms offset gains in mining companies, while investors looked ahead to inflation data due on Wednesday for cues about economic recovery. The energy sector dropped 0.2% as U.S. crude prices were down 0.2% a barrel, while Brent crude lost 0.1%. The materials sector, which includes precious and base metals miners and fertilizer companies, gained 0.4% as gold futures rose 0.2% to $1,870.5 an ounce. At 9:47 a.m. ET (1347 GMT), the Toronto Stock Exchange’s S&P/TSX composite index was down 8.47 points, or 0.04%, at 19,466.18.
Stocks Still Tentative by Noon
Parex, Canfor in Focus Equities in Canada’s largest market enjoyed slight gains by midday Tuesday, as losses in energy firms offset gains in mining companies, while investors looked ahead to inflation data due on Wednesday for cues about economic recovery.
The TSX regained 31.49 points to stop for lunch hour at 19,506.14.
The Canadian dollar inched forward 0.05 cents to 82.95 cents U.S.
Centerra Gold rose 69 cents, or 8%, the biggest hike on the index today, to $9.35, after saying it was taking all measures possible to protect shareholder rights and is seeing good support from the Canadian and U.K. governments, a day after Kyrgyzstan seized control of the company s Kumtor gold mine.