By Adriano Marchese
Stocks in Toronto were down at midday on Wednesday, putting them in line with other global markets as the Bank of Canada left its benchmark interest rate unchanged at 5%.
The central bank said a rate cut in June was possible, as long as future data assures officials that downward momentum in inflation is sustainable.
Most Canadian sectors were trending lower led by health services, utilities and producer manufacturing. Only energy, consumer durables and technology gained.
Canada's S&P/TSX Composite Index was down 0.8% to 22191.50, and the blue-chip S&P/TSX 60 was also off by 0.8% to 1328.96.
Shares of Roots were up 2% to 2.50 Canadian dollars ($1.84) after the company reported a higher profit in the fourth quarter, despite lower revenue as it worked to reduce inventory.
Other market movers:
Canfor's shares were down 1.4% to C$15.78 after the company said it plans to close its Jackson mill in southern Alabama. Canfor will expand production at another facility and add a shift there as it looks to optimize regional operations.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
04-10-24 1233ET
