Canada’s main stock index fell short by the close on Wednesday after the Bank of Canada raised its overnight lending rate as expected but signaled a pause in its hiking cycle and added economic growth would stall through the middle of the year.
The TSX lost 29.95 points to conclude Wednesday at 20,599.60.
The Canadian dollar let go of 0.07 cents at 74.70 cents U.S.
Industrials were looking down Wednesday, with Canadian National Railway down $7.62, or 4.6%, to $158.29, while Canadian Pacific lost $3.96, or 3.7%, to $102.98.
Energy stocks faltered, too, as Birchcliff Energy lost 35 cents, or 3.8%, to $8.86, while Peyto Exploration moved back 46 cents, or 3.4%, to $13.13.
Among utilities, Boralex backpedaled 88 cents, or 2.2%, to $38.62, while Innergex Energy docked 30 cents, or 1.9%, to $15.87.
Gold stocks tried to right the ship, as Centerra Gold gained 40 cents, or 4.8%, to … Read more