CANADA STOCKS-TSX ends lower as Middle East war strains global economy
BY Reuters | ECONOMIC | 04/23/26 04:25 PM EDT* TSX ends down 0.1% at 33,912.93
* Tech falls 4.5%, with Shopify
* Energy adds 1.8% as oil settles 3.1% higher
* Teck rises 2.8% after earnings beat (Updates at market close)
By Fergal Smith
April 23 (Reuters) - Canada's main stock index edged lower on Thursday, led by declines for technology and metal mining shares, as investors weighed evidence that the war in the Middle East is hurting the global economy.
The Toronto Stock Exchange's S&P/TSX Composite Index ended down 42.18 points, or 0.1%, at 33,912.93.
There are signs that the war is beginning to weigh on the global economy and specific industries, Colin Cieszynski, chief market strategist at SIA Wealth Management, said in a note.
"Higher energy prices are now filtering into corporate outlooks and forward expectations," Cieszynski said.
The global economy is facing ever more tangible strains from the energy shock triggered by the Iran war as factories grapple with soaring production costs and activity weakens even in services sectors, major surveys showed.
Canadian producer prices rose 2.4% in March from February on higher prices for energy and petroleum products, as well as chemical products, linked to the closure of the Strait of Hormuz. The price of oil settled 3.1% higher at $95.89 a barrel after reports that air defenses were engaging targets over Tehran and of a power struggle between Iranian hardliners and moderates.
Technology fell 4.5%, with shares of Shopify
The materials group, which includes metal mining shares, ended 1.5% lower as gold and copper prices fell.
Teck Resources
Print
