• TSX closes up 0.3%
• Critical miners fall
• US CPI due on Thursday

July 8 (Reuters) - Canada's main stock index eked out a slight gain on Monday as declines in resources shares were more than offset by gains in the real estate and healthcare sectors.

The Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE) New Tab, opens new tab closed up 0.3%.

Copper miners were the biggest drag, weighing down the materials sector (.GSPTTMT) New Tab, opens new tab that slipped 0.5% over concerns about Canadian restrictions against future M&A critical mineral deals. The biggest loser was First Quantum Minerals (FM.TO) New Tab, opens new tab, which fell nearly 5% as investors booked profits on the volatile stock.

Lundin Gold (LUG.TO) New Tab, opens new tab was the top gainer with a 5% jump even as gold prices declined on profit-booking after bullion crossed a one-month high in the previous session.

Healthcare real estate firm NorthWest Healthcare Properties (NWH_u.TO) New Tab, opens new tab closed up 4%.

Healthcare (.GSPTTHC) New Tab, opens new tab, which rose more than 1%, and real estate (.GSPTTRE) New Tab, opens new tab, which gained nearly 2%, were the day's best-performing sectors.

Lower oil prices weighed on the energy sector (.SPTTEN) New Tab, opens new tab, which eased as hopes for a ceasefire in Gaza eased supply disruption worries.

Wall Street indexes also rose on Monday, with the S&P 500 (.SPX) New Tab, opens new tab and Nasdaq (.IXIC) New Tab, opens new tab hitting intraday record highs.

U.S. jobs data on Friday showed job growth was moderating, firming bets of an interest-rate cut by the Federal Reserve in September.

Markets will closely assess Fed Chair Jerome Powell's comments during his semi-annual testimony, alongside the U.S. Consumer Price Index (CPI) reading, expected later this week.

"(The Fed would) rather make a mistake on holding rates higher for longer and tipping the economy into somewhat of a recession versus cutting too early and having inflation kind of pick up on them again", said Denis Taillefer, senior portfolio manager at Caldwell Investment Management.

Earnings season is set to commence with big U.S. banks scheduled to report their quarterly earnings on Friday.

After the Bank of Canada trimmed rates last month, market participants are now pricing in a 61.5% chance of another cut at its next meeting on July 24. 0#BOCWATCH

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https://www.reuters.com/markets/tsx-futures-muted-commodities-decline-amid-rate-cut-hopes-2024-07-08/