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(Recasts with market close) By Fergal Smith TORONTO, Oct 19 (Reuters) - Canada's main stock index fell on Monday, weighed by declines for financial and metal mining shares, as investors worried that a potential Bank of Canada interest rate hike could slow the domestic economy. The S&P/TSX Composite Index ended down 247.92 points, or 0.7%, at 35,928.63, after posting its highest closing level in more than three weeks on Friday. * Canada's annual inflation rate rose less than expected to 3.1% in September. * Still, investors have raised their bets on a Bank of Canada interest rate hike next week after Governor Tiff Macklem said on Saturday there was increased risk that inflation broadens and becomes more persistent. * "If they were to hike, they're going to be slowing down an economy that's already moving at a snail's pace," said Allan Small, senior investment adviser at the Allan Small Financial Group with iA Private Wealth. * Canada's economy has lost 41,200 jobs in the first nine months of the year compared with a gain of 211,300 in the same period of 2025. * Heavily weighted financials fell 0.6%, while industrials were down 1.1% as railroad shares and Air Canada lost ground. * Shares of Air Canada fell 3.2% after brokerage Jefferies cut its rating on the stock. * Interest rate sensitive stocks were a drag, with real estate down 1.3% and utilities ending 1.4% lower. * Canada's 10-year yield climbed 12.4 basis points to 3.953%, moving back in reach of the nearly three-year high it touched earlier this month at 4.042%. * The materials sector, which includes metal mining shares, fell 1.1%. The price of gold was down 0.5%, pressured by a firm dollar and elevated US Treasury yields. * Energy was the only major sector to end higher, adding 0.5%. * US crude oil futures settled up 2.2% at $103.66 a barrel after attacks by Yemen's Iran-aligned Houthis on a Yemeni military training camp and renewed attacks on Saudi energy, airport and military facilities. (Reporting by Fergal Smith in Toronto and Anand Gopal and Utkarsh Hathi in Bengaluru; Editing by Leroy Leo and Matthew Lewis) Catch all the Business News , Market News , Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates. Oops! Looks like you have exceeded the limit to bookmark the image. Remove some to bookmark this image.
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