By Adriano Marchese
Stocks in Toronto were unchanged Tuesday, the first trading day of the shortened week after the Victoria Day long weekend.
On the macroeconomic front, the country's inflation eased last month to 2.7%, resuming its decline to advance at the slowest pace in three years, which could potentially lead to an interest-rate cut before summer.
Sector performance was mixed in the session. Consumer durables, health tech and commercial services dragged the most. These were offset by gains in consumer discretionary, materials and health services gains.
Canada's S&P/TSX Composite Index was flat at 22466.57 and the blue-chip S&P/TSX 60 was also unchanged at 1342.26.
InterRent Real Estate Investment Trust plans to launch a share repurchase program to buy back up to 10% of its stock over the course of a one-year period. Shares were down 0.3% to 12.27 Canadian dollars ($9.01).
Other market movers:
Trading on the TSX Venture, shares in Drone Delivery Canada and Volatus Aerospace were higher after they agreed to combine their companies to create a diversified drone technology and services company. Shares of Drone Delivery Canada rose 18% to C$0.23 while Volatus stock rose by 72% to C$0.25 a share.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
05-21-24 1231ET
