Canadian stocks experienced a volatile trading session on Tuesday, beginning with a flat opening, witnessing a mid-day slump, and finally recovering to close with a slight loss. Initially declining to the session’s low near midday, the market gradually pared losses due to bargain hunting.Investors exhibited caution, anticipating significant U.S. inflation data and the European Central Bank’s impending monetary policy decisions. The benchmark SMI, which fell around 235 points to touch 22,791.55 at noon, concluded the day with a minor decline of 24.06 points, or 0.1%, at 23,003.09.Key sectors such as materials, healthcare, real estate, and technology saw notable gains. Conversely, stocks in energy and consumer discretionary sectors experienced significant declines.Among the major decliners were Canadian Natural Resources (CNQ.TO), Alimentation Couche-Tard (ATD.TO), TC Energy Corporation (TRP.TO), Suncor Energy (SU.TO), Imperial Oil (IMO.TO), BCE Inc. (BCE.TO), Cenovus Energy (CVE.TO), Dollarama Inc. (DOL.TO), Telus Corp. (T.TO), Nutrien (NTR.TO), and Magna International (MG.TO).On the other hand, Lundin Gold (LUG.TO), Celestica Inc. (CLS.TO), Endeavour Mining (EDV.TO), Quebecor (QBR.TO), Pan American Silver Corp (PAAS.TO), IA Financial Corporation (IAG.TO), Alamos Gold (AGI.TO), Open Text Corporation (OTEX.TO), First Quantum Minerals (FM.TO), Kinross Gold Corp (K.TO), and Power Corporation of Canada (POW.TO) posted significant rallies.WSP Global (WSP.TO), Wheaton Precious Metals (WPM.TO), Fairfax Financial Holdings (FFH.TO), Franco-Nevada Corp (FNV.TO), Barrick Gold Corporation (ABX.TO), and Agnico Eagle Mines (AEM.TO) also recorded strong gains during the session.Centamin plc (CEE.TO) shares surged 23.5% following the announcement of its gold production results, with 93,278 ounces produced and 102,563 ounces sold in the second quarter from the Sukari Gold Mine.The material has been provided by InstaForex Company – www.instaforex.com
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