Canadian Shares Close Little Changed

The Canadian benchmark S&P/TSX Composite Index ended little changed at 19973 on Wednesday, amid a general fall in investors' optimism on concerns over a looming recession and aggressive rate hikes from major central banks.

The Bank of Canada raised its key interest rate by 50bps for a second straight time but signalled the tightening cycle may come to an end soon.

At the same time, oil prices sank 2% to erase 2022 losses, weighing on the energy sector.