Toronto stocks slip as commodity stocks drag, rising yield weigh

Oct 23 - Canada's main stock index fell to a two-week low on Monday as weaker commodity prices sparked a sell-off in energy and material sectors, while rising government bond yields kept equities under pressure.

The energy sector lost 0.9% after oil prices fell over $1 per barrel as investors assessed diplomatic efforts, which attempt to contain the geopolitical turmoil in the Middle East. Gold prices came off five-month highs following a spike in Treasury yields, while copper prices tumbled to eleven-month lows on China's property crisis and receding hopes of stronger stimulus in the top consumer of industrial metals.

Rate-sensitive real estate sector fell 0.7%, while the information technology sector was down 0.4%.Investors also braced for Bank of Canada's interest rate decision, due Wednesday. The central bank is expected to hold rates at a 22-year high of 5.00%, according to a majority of economists polled by Reuters.

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