CANADA STOCKS-TSX edges lower as miners weigh; investors assess US inflation data

By Reuters News

By Darshan Kumar R

Sept 30 (Reuters) - Canada's main stock index edged lower on Wednesday as declines in mining and other sectors outweighed gains in energy stocks, while investors assessed softer-than-expected US inflation data.

The Toronto Stock Exchange's S&P/TSX Composite Index .GSPTSE fell 0.3% to 35,377.84 points at 10:27 a.m. ET (1427 GMT).

  • US stock indexes moved higher as cooler-than-expected inflation data reduced expectations that the Federal Reserve will raise interest rates again next month

  • On the TSX, 7 of the 10 main sectors were in negative territory

  • Mining shares dropped 1.3% as gold and silver fell GOL/

  • The health care sector was the biggest decliner, down more than 2%, with medical cannabis producer Curaleaf Holdings CURA.TO falling over 8%

  • The energy sector .SPTTEN led gains with a 0.8% rise

  • Brent crude was on track for a monthly gain of about 14%, its biggest since July, as US-Iran talks aimed at ending their war stalled and tight fuel markets continued to underpin prices O/R

  • "It's going to be really volatile day-to-day. There's no clear directional move until we get more stability and clarity out of the Middle East," said Michael Dehal, a senior portfolio manager at Dehal Investment Partners at Raymond James

  • The Canadian benchmark index was set to snap a five-month winning streak following a turbulent September marked by rising global bond yields, a Fed rate hike and escalating Canada-US trade tensions

  • Still, the index was on track to post a ninth straight quarterly gain, its longest such streak on record

  • Among other movers, First Quantum Minerals FM.TO slumped 31% after Panama's government recommended an orderly closure of the mining company's Cobre Panama mine

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