TSX stays flat as tech gains offset mining losses
The TSX rose 0.03 percent as tech gains led by BlackBerry offset mining losses. Geopolitical tensions lifted oil prices but stoked inflation concerns.
Canada's S&P/TSX composite index edged up 0.03% to 33,900.92 points during midday trading on May 4. Gains in technology shares offset a 0.3% decline in mining stocks amid escalating tensions between the United States and Iran. Investors are weighing whether rising energy costs and geopolitical friction will force central banks to resume interest rate hikes.
BLACKBERRY LTD shares soared 8% to a one-year high, leading a 1.6% rise in the technology sector. This gain countered weakness in the materials space, where heavy-weight mining stocks slipped 0.3%. ELDORADO GOLD CORP and LUNDIN MINING CORP both declined between 1.6% and 2.8% as gold prices fell.
