Canadian Stocks Little Changed as Commodities Slump on Iran Deal

Canadian stocks were little changed as gold and crude prices slumped after Iran and world powers reached an interim accord on the country’s nuclear program.

BlackBerry Ltd. (BB) gained 2 percent after the smartphone maker replaced its chief financial officer and two other top executives as it tries to turn around the struggling smartphone maker. Detour Gold Corp. (DGC), the worst-performing stock in the Standard & Poor’s/TSX Composite Index (SPTSX) this year, plunged 23 percent after its chief executive officer resigned. Kirkland Lake Gold Inc. sank 12 percent after saying its second-quarter gold production was lower than previously reported.

The S&P/TSX fell 10.07 points, or less than 0.1 percent, to 13,468.27 at 9:57 a.m. in Toronto. The benchmark equity gauge has risen 8.4 percent this year.

Iran agreed to curtail its nuclear activities and in return won an easing of “certain sanctions” on oil, auto parts, gold and precious metals. The deal, which is reversible, was announced yesterday after five days of talks in Geneva. Gold plunged to the lowest level in more than four months as the accord damped demand for a haven.

To contact the reporter on this story: Eric Lam in Toronto at elam87@bloomberg.net

To contact the editor responsible for this story: Lynn Thomasson at lthomasson@bloomberg.net

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