With crude oil contracts finishing lower and bullion taking a hit towards $554, benchmark issues led declines in the headline index while the junior market ticked slightly higher. The S&P TSX composite index slipped 13.63 points to 11,786.57 while the Venture Exchange edged higher by 5.42 points to 2,532.68. Stock in the region’s largest gold producer declined on the overall pessimistic sentiment. Canadian based Barrick Gold Corp. reported quarterly profit that rose $175 million compared to a $156 million rise in the annualized comparison. Nonetheless, the overall sector declined more than two percent as the April bullion contract dipped almost $2 on the session.
Canadian bond markets mimicked U.S. markets as traders continued momentum off of the recent consumer price index. Anticipating further rate hike considerations by policy officials, traders bid the note lower by 35 cents to 102.78 as the yield rose 4 basis points to 4.13 percent.
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