India, May 4 -- Canadian stocks moved lower on Monday as investors refrained from big bets after the U.S. and Iran pushed to re-assert control over the Strait of Hormuz. The intensifying conflict pushed oil prices and inflationary concerns higher once again.
After opening a little lower than previous week's close, today the benchmark S&P/TSX Composite Index gave away early gains and traded lower before settling at 33,638.87, down by 252.31 points (or 0.74%).
Two of the 11 sectors posted gains today, with the energy sector leading the pack.
Investors held back from risky moves after U.S. President Donald Trump announced an initiative to guide the stranded vessels out of the Strait of Hormuz safely as it drew Iran's strong opposition.
On ...