TSX Flat At Open

(MENAFN- Baystreet)
Equity markets in Toronto were muted at open on Wednesday, as gains in mining and energy stocks offset inflation fears rekindled by a jump in by oil prices, which hit $100 per barrel on escalating U.S.-Iran tensions.
The TSX dumped 161.82 points to begin Wednesday at 35,961.23.
The Canadian dollar dipped 0.04 cents to 72.54 cents.
Meanwhile, the U.S. on Tuesday expanded trade restrictions on?Canada, banning imports of numerous alcoholic beverages, motorcycles?and dairy products.
The levies followed 50%?tariffs that the?U.S. had imposed on some $20 billion of Canadian goods last month after several rounds?of talks broke down.
U.S.-listed shares of Lithium Americas rose?4% in premarket trading after J.P. Morgan assumed coverage with "overweight" rating. Lithium shares in Canada gained 20.5 cents, or 5%, from $4.35.
ON BAYSTREET
The TSX Venture Exchange dipped 4.76 points to 964.40.
All but three of the 12 TSX subgroups were in the red in the day's first hour, with financials and industrials, each down 1.2%, and consumer discretionary stocks off 0.8%.
The three gainers proved to be gold, ahead 1.7%, materials, up 1.3%, and energy, better by 1%.
ON WALLSTREET
Stocks fell on Wednesday as rising oil prices continued to rattle investors by stoking fears of higher inflation.
The Dow Jones Industrials fell 301.07 points, or 1.2%, to 52,485.
The S&P 500 sank 18.47 points to 7,654.05
The NASDAQ Composite retreated 96.17 points to 26,325.24.
Oil prices rose as escalating tensions between the U.S. and Iran fuel concerns over further disruptions to Middle East energy supplies.
Prices for the 10-year Treasury were lower, raising yields to 4.81% from Tuesday's 4.79%. Treasury prices and yields move in opposite directions.
Oil prices added $3.14 to $96.17 U.S. a barrel.
Gold prices gained $19.40 to $4,458.40 U.S. an ounce.

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