By Robb M. Stewart
Stocks in Toronto were modestly lower Monday as investors await the Bank of Canada’s latest call on interest rates later in the week.
Consumer and commercial-services stocks, along with retailers, led losses in midday trading.
The S&P/TSX Composite Index was 0.2% lower, at 19993.85, and the blue-chip S&P/TSX 60 down 0.2%, at 1201.57.
The major banks were each down, led by a 1.2% fall by Canadian Imperial Bank of Commercial and 1.4% decline by National Bank of Canada.
RB Global’s shares were weighing on the market, down 1.5%, at 72.78 Canadian dollars (US$54.18), after S&P Dow Jones Indices said it would remove the auctioneer from the Composite Index following a decision to change the domicile to the U.S. from Canada, effective the open of the market June 19.
Other market movers:
Fairfax Financial’s shares were little changed, easing 0.1%, to C$985.20, after it agreed to buy most of the real-estate-construction loans that Kennedy Wilson is picking up from PacWest Bancorp in a US$2.1 billion deal.
Write to Robb M. Stewart at [email protected]
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