By Adriano Marchese
Toronto stocks were sharply lower as the conflict against Iran in the Middle East entered its second week.
Oil surged on Monday around $100 a barrel as the Strait of Hormuz, a critical shipping corridor, remained blocked and other oil-producing nations in the region cut back their output.
The Canadian energy sector was the main gainer. Materials, consumer discretionary and health tech names led the broad-based decline.
Canada's S&P/TSX Composite Index fell 1% to 32743.22 and the blue-chip S&P/TSX 60 was down 0.8% to 1899.98.
Constellation Software profit fell in the fourth quarter due to a large noncash charge tied to the rising value of an investment, which offset higher revenue. Shares fell 0.6% to 2,944.83 Canadian dollars ($2,170.34).
Other market movers:
Mining stocks were lower to start the week as metals prices continued to roll back some of their recent gains.
Among the decliners were Silvercorp Metal, which fell 6.2%, and SSR Mining, down 6%. Lundin Mining declined 4.9% and Aya Gold & Silver fell 4.4%.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
03-09-26 1244ET
