June 19 (Reuters) - Canada's main stock index was little unchanged on Wednesday, as strength in energy stocks was offset by weakness in real estate, while investors awaited more cues on the interest rate cut trajectory in the U.S. and Canada.
By 9:53 a.m. ET (13:53 GMT), the Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE), opens new tab was up 2.46 points, or 0.01%, at 21,613.76.
Energy shares (.SPTTEN), opens new tab gained the most, with a 0.4% rise, after oil prices hit seven-week highs on summer demand optimism and escalating geopolitical conflict concerns. [O/R]
Interest rate-sensitive sectors, like real estate (.GSPTTRE), opens new tab and healthcare (.GSPTTHC), opens new tab declined 0.2% and 0.8%, respectively.
Trading activity was low as U.S. markets were closed on Wednesday.
The benchmark index snapped its three-session losing streak on Tuesday, buoyed by strength in resources shares.
The Bank of Canada is scheduled to release the minutes of its last meeting at 1:30 p.m. ET.
“There might be some anticipation in terms of their thinking process and of course, (investors are) looking forward to their next meeting as to whether they will be continuing to cut rates," said Kevin Headland, co-chief investment strategist at Manulife Investment Management.
The central bank indicated at its last decision, where it trimmed borrowing costs and became the first G7 country to do so, that more cuts would be gradual and data-dependent.
Looking forward, domestic retail sales numbers due on Friday will be in the limelight, guiding expectations of further rate cuts by the Bank of Canada in the year.
“If we see retail sales data and other weaker consumer data, it's kind of confirming (that) overall weaker economic data, which also should lead through slower inflation and would help the BoC in its path to cutting rates," Headland added.
A slower-than-expected growth in retail sales in the U.S. on Tuesday, had however, revived some hopes of a September cut by the Fed.
Reporting by Purvi Agarwal in Bengaluru Editing by Marguerita Choy
