Stocks in Canada’s largest market finished lower on the day Monday, reacting to sentiment arising from Turkey's worsening currency crisis, health-care and gold stocks led the way down.
The S&P/TSX Composite Index fell 75.76 points to conclude Monday at 16,250.75
The Canadian dollar let go of 0.47 cents to 76.14 cents U.S.
Among health-care issues, Bausch Health Companies handed back 55 cents, or 1.9%, to $28.13, while Aurora Cannabis dropped 19 cents, or 3.1%, to $5.90.
Gold stocks took a good whipping, too, primarily, Barrick Gold, which tailed off 42 cents, or 3%, to $13.80, while Kinross Gold lost six cents, or 1.5%, to $4.07.
Stocks in the materials index fell as a stronger U.S. dollar pressured gold prices in the backdrop of a plunging Turkish lira.
Also weighing on the materials index were shares of First Majestic Silver Corp, which fell $1.15, or 13.5%, to $7.35, after the miner reported a larger-than-expected loss in the second quarter.
Agnico Eagle Mines faded $1.57, or 3%, to $50.91.
Consumer staple stocks provided one of the few beams of light Monday, as Loblaw Companies gained 29 cents to $67.38, while Saputo acquired 79 cents, or 2%, to $41.33.
Telecoms did well, as BCE gathered 16 cents to $53.33, while Rogers Communications moved forward 43 cents to $67.69.
Among real-estate issues, units of Summit Industrial REIT gained eight cents to $8.78.
ON BAYSTREET
The TSX Venture Exchange stumbled 12.76 points Monday at 680.99
All but three of the 12 subgroups were negative to end the day, with health-care tumbling 2.9%, gold off 2.5%, and materials down 1.9%.
The three gainers were consumer staples, telecoms, and real-estate, each better by 0.4%.
ON WALLSTREET
Stocks slipped on Monday as a financial crisis in Turkey that sent its currency tumbling last week worsened, dampening investor sentiment around the world.
The Dow Jones Industrial Average slumped 125.44 points to 25,187.70, with Goldman Sachs and J.P. Morgan Chase both falling more than 1%. The 30-stock index also posted its fourth straight day of losses, its longest losing streak since June.
The S&P 500 lost 11.35 points to 2,821.93, as materials and energy lagged
The NASDAQ stumbled 19.4 points to 7,819.71, but gains in Amazon and Apple rose 1% kept losses in check.
Tesla shares rose 0.3% after CEO Elon Musk said a Saudi fund wants to take the company private. The stock rose nearly 2% after the announcement, but quickly pared those gains.
Materials dropped 1%, led lower by shares of Mosaic, which fell 3.6%.
The Turkish lira, which briefly tumbled more than 20% on Friday, reached a fresh record low on Monday before regaining some footing.
Tensions between the U.S. and Turkey increased last week after a Turkish delegation returned from Washington with no apparent progress on the detention of U.S. pastor Andrew Brunson, who is charged with supporting a group blamed for an attempted coup in 2016.
Prices for the benchmark for the 10-year U.S. Treasury were slightly higher, dropping yields to 2.87% from Friday’s 2.88%. Treasury prices and yields move in opposite directions.
Oil prices lost 32 cents to $67.31 U.S. a barrel.
Gold prices were down $18.50 to $1,200.50 U.S. an ounce.
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