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