TORONTO, May 1 (Reuters) - Canada's main stock index dipped on Friday, leaving it barely changed for the week, as losses for resource shares offset gains for technology, and investors weighed prospects of diplomatic progress in the Iran war.
The Toronto Stock Exchange's S&P/TSX Composite Index ended down 73.15 points, or 0.2%, at 33,891.18. For the week, the index inched 0.04% lower, while it has advanced 6.9% since the start of the year.
Tehran has submitted its latest proposal for negotiations with the United States, Iranian state media and a Pakistani official said, a move that could offer hope for breaking a deadlock in efforts to end the Iran war.
"There's going to be a lot of uncertainty until the tensions kind of die down," said Webull Canada CEO Michael Constantino.
The conflict has spurred inventory building in Canada's manufacturing sector, leading to the sector expanding in April at its fastest pace in nearly four years.
Energy fell 1.1% as oil gave back some recent gains. U.S. crude oil futures settled nearly 3% lower at $101.94 a barrel.
Imperial Oil missed analysts' estimates for first-quarter profit, as weaker crude realizations and unplanned outages at its facilities reduced refinery throughput. The oil producers' shares fell 4%.
The materials group, which includes metal mining shares, lost 1.1% as the price of gold edged lower.
Three of the 10 major sectors ended higher, including technology. It rose 1.9%, with shares of e-commerce company Shopify Inc up 5.2%.
Badger Infrastructure Solutions Ltd was a standout. Its shares jumped 19.3% after the excavating firm reported first-quarter revenue that beat estimates.
(Reporting by Fergal Smith in Toronto and Tharuniyaa Lakshmi in Bengaluru; editing by Joyjeet Das)
By Tharuniyaa Lakshmi and Fergal Smith
