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TSX Ditches Points in First Hour

Equities in Canada’s largest market were subdued in thin trade on Monday, with mining and energy stocks falling on declines in commodity prices, while investors awaited key domestic economic data and U.S. Federal Reserve Chair Jerome Powell's testimony this week.

The TSX let go of 30.14 points to 19,945.23.

The Canadian dollar inched up 0.08 cents to 75.83 cents U.S.

On the companies front, cannabis and consumer packaged goods firm Canopy Growth, along with Converge Technology Solutions and support services provider RB Global will be excluded from the benchmark TSX effective Monday.

Canopy, for its part, grabbed a penny, or 1.2%, to 84 cents, while Converge shares improved four cents, or 1.3%, to $3.23. RB Global lost 21 cents to $74.97.

Some stocks were roughed up in the first hour, most notably, Eldorado Gold, down 19 cents, or 1.4%, to $13.24. Tilray lost three cents, or 1.4%, to $2.08.

Elsewhere on the markets Monday, Hut 8 Mining surged 11 cents, or 3.6%, to $3.20, while Brookfield Renewables climbed 66 cents, or 1.7%, to $38.94.

Celestica gained 17 cents to $18.97 after TD Cowen raised its target price on the electronics companies' stock.
Oil prices docked one cent to $71.77 U.S. a barrel.

Gold prices sank $6.20 to $1,965.00. U.S. an ounce.

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On the economic beat, Statistics Canada reports the Industrial Product Price Index fell 1.0% month over month in May and was 6.3% lower than in May 2022. In May 2023, the Raw Materials Price Index decreased 4.9% on a monthly basis and fell 18.4% year over year.

ON BAYSTREET

The TSX Venture Exchange nicked higher 1.39 points to 613.57, for a gain on the week of 3.25 points, or 0.53%.

ON WALLSTREET

U.S. markets are shuttered Monday for Juneteenth.