Equities in Canada’s largest market limped to the finish Monday, falling below the breakeven line, as losses in tech and industrials beat out gains in resource stocks.
The S&P/TSX Composite Index slipped 1.96 points to finish Monday at 16,523.47
The Canadian dollar inched up 0.04 cents to 75.85 cents U.S. Monday afternoon.
Tech stocks took the biggest pounding as Shopify was bludgeoned $19.99, or 4.6%, to $411.51, while Quarterhill tumbled seven cents, or
4.8%, to $1.38.
Industrials also fell, as Ritchie Bros. Auctioneers erased $2.01, or 4.2%, to $45.65, while WSP Global dropped $1.19, or 1.7%, to $70.68.
Consumer discretionary stocks felt around for the bruises, with The Stars Group receding 47 cents, or 2.1%, to 21.50, while Aritzia fell 30 cents, or 1.7%, to $16.98.
Gold stocks tried to even things out, as Barrick Gold jumped 85 cents, or 4.1%, to $21.41, while Detour Gold hiked 49 cents, or 3.2%, to $15.89.
In other resource stocks, Ero Copper popped 49 cents, or 3.2%, to $15.89, while First Quantum Minerals leaped 39 cents, or 3.3%, to $12.34.
Among health-care concerns, Canopy Growth regained 25 cents to $53.53, as Cormark Securities cut price target on the cannabis maker's shares.
Aphria gained 33 cents, or 3.7%, to $9.35.
ON BAYSTREET
The TSX Venture Exchange fell 3.45 points at 589.12
Seven of the 12 Toronto subgroups remained negative till the close, as information technology lost 0.8%, industrials were down 0.7%, and consumer discretionaries surrendered 0.5%.
The five gainers were led by gold, shining 2.9% brighter, materials, up 2%, and health-care, ahead 0.6%.
ON WALLSTREET
Stocks held steady on Monday as investors looked ahead to a key meeting between President Donald Trump and Chinese President Xi Jinping at this week’s G-20 summit.
The Dow Jones Industrial Average took on 8.41 points to close at 26,727.54
The S&P 500 sank 5.11 points to 2,945.35
The NASDAQ Composite fell 26.01 points to 8,005.70
The major indexes came into Monday’s session up more than 7% each in June. Those gains erased a massive selloff in May, which was fueled by China and the U.S. hiking tariffs on each other’s products.
Dow member United Technologies rose 1.1% after an analyst at Cowen upgraded the stock to outperform from market perform. Deere shares, meanwhile, climbed 1.6% after being upgraded to buy from neutral at UBS.
In corporate news, Caesars Entertainment shares surged 14.5% after the casino operator agreed to be bought out by Eldorado Resorts for more than $17 billion, including debt.
Trump and Xi are expected to discuss the ongoing trade war between the U.S. and China at the summit, which is set to start Friday. Investors are hopeful the two leaders will get closer to a deal that will end the conflict.
China and the U.S. have slapped tariffs on billions of dollars worth of their goods over the past year. Last month, the two countries hiked tariffs targeting some goods.
Prices for the benchmark 10-year U.S. Treasury gained ground, thus lowering yields to 2.02% from Friday’s 2.06%. Treasury prices and yields move in opposite directions.
Oil prices gained 41 cents to $57.84 U.S. a barrel.
Gold prices improved $22.80 to $1,422.90 U.S. an ounce.
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