On Monday, Canada's market began with early downturns but managed to close only slightly lower. Investors exercised caution in anticipation of key economic events, including the upcoming monetary policy declaration from the Bank of Canada.
This Wednesday, minutes from the Federal Reserve's latest policy meeting are due. Later this week, data on US consumer and producer price inflation will be released, as well as the European Central Bank's monetary policy release.
The S&P/TSX Composite Index, Canada's benchmark, fell to 22,178.67 early in the day but finished 4.08 points lower at 22,260.30. Noteworthy gainers included stocks from the utilities, industrial, and real estate sectors, while healthcare and consumer discretionary stocks suffered.
Bausch Health Companies saw a near 7% drop, while Filo Corp fell 3%. Other companies that experienced losses ranging from 2 to 2.7% included Methanex Corp, Dollarama Inc, Ag Growth Corporation, Calian Group, and Premium Brands Holdings Corporation.
Franco Nevada Corporation, Nutrien, Agnico Eagle Mines, FirstService Corporation, and Shopify Inc also witnessed significant drops.
On a positive note, Perpetua Resources Corp shares skyrocketed by 32.3% following the company's announcement of a Letter of Interest from the Export-Import Bank of the United States. This could possibly lead to a debt financing of up to $1.8 billion through the bank's Make More in America and China and Transformational Exports Program initiatives.
Gains were also witnessed by Goeasy, which surged nearly 4.5%. Other companies like Dayforce, Thomson Reuters, and TFI International ended the day with robust gains.
