Brexit Anxiety On Bay Street Tuesday -- Canadian Commentary

(RTTNews) - Canadian stocks turned in a lackluster performance Tuesday, as falling gold stocks offset modest strength among energy and banks.

Traders were in a cautious mood ahead of Thursday's Brexit vote.

UK voters will decide whether to leave the European Union, a move that could spark a serious sell-off in global equities.

Federal Reserve Chair Janet Yellen still expects 'gradual' rate hikes as global headwinds die down, the US central banker told lawmakers.

A "cautious approach" on interest rates "remains appropriate" amid "considerable uncertainty" about the economic outlook, Yellen said in semi-annual testimony before the Senate Banking Committee.

The S&P/TSX Composite Index was down 2.82 points, or 0.02 percent, to 14,012.32.

Banking stocks were higher after Moody's said Canadian lenders could easily withstannd another housing crisis.

Canadian Pacific Railway (CP.TO) slipped 2.3 percent.

Rival Canadian National (CNR.TO) warned on second quarter earnings, citing weak grain and potash shipments, the wildfires in northern Alberta and a strengthening Canadian dollar.