MID-DAY: Lower financials, higher healthcare shares leading to flat TSX
Bay Street is flat today as gains in one sector are being offset by losses in another. Healthcare is up but financials are down.
The losses in financials come on the news that inflation in April was lower than expected, but, at 2.2 per cent, still two tenths higher than the Bank of Canada’s target. That means the BoC will likely hold off on another interest rate increase later this month. The TSX is down a half a point to 16,143.
South of the border it’s been a choppy day on Wall Street as gains in the industrial sector are offsetting energy, tech, and banking losses. The Dow Jones is up 20 points to 24,734.
At press time oil is down nine cents to $71.40 U.S. per barrel, gold is up $2.20 to 1291 an ounce, and the loonie is down more than half a cent to 77.60 cents U.S.