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S&P/TSX Composite Index Falls 27 Points at Midday as Financials Weigh

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The S&P/TSX Composite Index dropped 27 points at midday Monday, with the financials sector as the weakest performer.

The financials sector was down 1.23% at midday followed by healthcare, down 1%.

The technology sector was the best performer and up 2.4%, followed by base metals (+0.8%).

In economic news, Canada's June consumer price index increased 2.8% year-over-year, on the heels of a 3.2% increase in May, Statistics Canada said Monday. This marked a month-over-month drop of 0.4%, the largest monthly decline since December 2024.

In stocks, Bridgemarq Real Estate Services (BRE.TO) extended steep losses from the prior session and fell 21% to C$4.98. The decline came after the company announced Friday it had changed its policy to a quarterly dividend of C$0.05 annualized from a monthly dividend of C$0.113.

Hut8 (HUT.TO) shares jumped 12.7% to C$144.40, after the company sealed a lease agreement for its Beacon Point AI data center campus in Texas.

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