April 23 (Reuters) - Canada's main stock index inched lower on Thursday, impacted by falling mining and technology stocks, while renewed Middle East concerns as Iran tightened its grip on the Strait of Hormuz also weighed on investor sentiment.At 10:24 a.m. ET, the Toronto Stock Exchange's S&P/TSX Composite Index (.GSPTSE), was down 0.02% at 33,955.04 points.
Iran on Thursday released a video of its commandos storming a huge cargo ship, demonstrating its tighter control of the critical waterway after the collapse of peace talks with the U.S., sending Brent crude prices back above $100 a barrel.
Energy shares (.SPTTEN), on the resources-heavy TSX rose 0.5%, tracking higher oil prices.
However, the materials subindex (.GSPTTMT), fell 0.3% as gold and silver retreated on revived inflation fears and concerns of prolonged high interest rates.
Technology stocks, including Shopify (SHOP.TO),, Constellation Software (CSU.TO), and Open Text (OTEX.TO), also declined between 6.1% and 5%, as weak first‑quarter results from U.S. software firms weighed on sentiment.
Even so, the TSX remained within 2% of its March 2 peak, having rallied about 9% from its late‑March lows on hopes that the Middle East conflict would reach a resolution.
"There's always going to be noise that's happening around the geopolitical tensions. With the TSX up nearly 40% year-over-year, this isn't really a market that's pricing in a crisis. It's pricing Canadian resource exposure that's providing the tailwind," said Corbin Footitt, portfolio manager at Verecan Capital Management Inc.
Among individual movers, Waste Connections (WCN.TO), rose 7.3% after the solid waste operator beat first-quarter revenue estimates.
Miner Teck Resources (TECKb.TO), rose 6.1% after beating analysts' estimates for first-quarter profit aided by an increase in copper prices and record sales.
Reporting by Tharuniyaa Lakshmi in Bengaluru; Editing by Jonathan Ananda
