TSX Ends Marginally Higher As Stocks Pare Early Losses

(RTTNews) - Canadian stocks tumbled Tuesday morning, hurt by hot inflation data and escalating geopolitical tensions, but recovered gradually to eventually end the day's session on a slightly positive note.

Data from Statistics Canada showed the annual inflation rate in Canada rose to 2% in October from an over-three-year low of 1.6% in the previous month. The consumer price index increased 0.4% in October over the previous month.

The annual core inflation rate in Canada increased to 1.7% in October, up from 1.6% a month earlier. On a monthly basis, core consumer prices rose by 0.4% in October, after being flat in the prior month.

Market is also weighed down by rising geopolitical concerns after Russian President Vladimir Putin updated nuclear doctrine.

Kremlin has warned that it would consider a nuclear strike if it was subject to a conventional missile assault supported by a nuclear power.

Materials and utilities stocks were the notable gainers. Consumer staples stocks closed weak. Stocks from rest of the sectors trimmed early losses.

The benchmark S&P/TSX Composite Index, which dropped nearly 200 points to 24,787.79 in early trades, settled at 25,010.77, gaining 33.83 points or 0.14%.

Dye & Durham (DND.TO) closed with a big gain of 13.2%. Celestica Inc (CLS.TO), Torex Gold Resources (TXG.TO), Agnico Eagle Mines (AEM.TO), Quebecor (QBR.A.TO), Wheaton Precious Metals (WPM.TO), Cameco Corporation (CCO.TO) and Franco-Nevada Corporation (FNV.TO) gained 2 to 3%.

Bombardier Inc (BBD.B.TO), Teck Resources (TECK.A.TO), Rogers Communications (RCI.A.TO), Capital Power Corporation (CPX.TO), Morguard Corporation (MRC.TO), Newmont Corporation (NGT.TO), Bank of Nova Scotia (BNS.TO), iA Financial Corporation (IAG.TO) and Kinaxis Inc (KXS.TO) gained 1 to 2%.

Mty Food Group (MTY.TO), Molson Coors Canada (TPX.B.TO), Boyd Group Services (BYD.TO), George Weston (WN.TO), Interfor Corporation (IFP.TO), Finning International (FTT.TO) and Magna International (MG.TO) closed down 2 to 5%.