Canadian stocks are turning in a mixed performance in cautious trade on Friday following the cancellation of U.S.-Iran talks scheduled to take place in Switzerland. Concerns about possible rate hikes after the Federal Reserve's hawkish tone on Wednesday also contributed to the cautious mood. The benchmark S&P/TSX Composite Index was flat at 34,968.99, after touching a low of 34,873.77 and a high of 35,005.96. Energy and consumer discretionary stocks found some support, while materials stocks were weak, with Alamos Gold tanking nearly 19% and several other gold miners down 2% to 4%. In economic news, the CFIB Business Barometer long-term index climbed to 49.6 in June from 46.3 in May, and a preliminary estimate showed retail sales surged 1% in May after a revised 0.5% rise in April.
Alamos Gold IncCancellation of U.S.-Iran talks reduces safe-haven demand for gold, pressuring gold miners like Alamos Gold.