Equities in Canada’s largest centre ?opened lower on Monday, as stalled U.S.-Iran peace talks weighed on risk appetite, offsetting gains in energy stocks ?driven by higher oil prices.
The TSX Composite Index ditched 14.62 points to close at 33,889.49.
The Canadian dollar eked up 0.4 cents at 73.50 cents U.S.
Gold stocks took the biggest hit, as B2Gold surrendered 45 cents, or 6.6%, to $6.33.
Energy stocks gained, particularly Arc Resources, rocketing $5.61, or 22%, to $31.48.
ON BAYSTREET
The TSX Venture Exchange removed 0.06 points to 1,010.94.
Seven of the 12 TSX subgroups were lower in the first hour, weighed most by gold, dulling 1.7%, while materials lost 0.8%, and consumer discretionary stocks, off 0.5%.
The five gainers were led by energy, up 2.4%, industrials, ahead 0.4%, and information technology, in plus territory 0.3%.
ON WALLSTREET
The S&P 500 was relatively unchanged on Monday as stalled Iran peace talks and a fresh escalation in the Strait of Hormuz pushed oil prices higher, keeping geopolitical tensions front and center heading into a pivotal week.
The Dow Jones Industrial Average dished off 14.5 points to 49,216.21.
The much broader index lost 14.5 points to 7,162.89.
The NASDAQ faltered 50.61 points to 24,785.99.
U.S. President Donald Trump on Saturday scrapped plans to send U.S. special envoy Steve Witkoff and Jared Kushner to Pakistan for ceasefire talks related to Iran, noting the negotiations could happen by phone.
“Too much time wasted on traveling, too much work!” the president wrote in a post on Truth Social. “Nobody knows who is in charge, including them. Also, we have all the cards; they have none! If they want to talk, all they have to do is call!!!”
Iran’s Foreign Ministry spokesperson Esmaeil Baqaei said no meeting between Tehran and Washington is currently planned.
Qualcomm erased early morning gains and fell 26 cents to $148.59, after TF International Securities analyst Ming-Chi Kuo said in a post on X that OpenAI is working with Qualcomm to develop smartphone processors.
Domino’s Pizza gave back 68 cents, or 1.4%, to $48.48, after its U.S. sales outlook came short of expectations. Domino’s said it expects U.S. same-store sales to expand by 0.9%. Analysts on average had penciled in growth of 2.3%.
Prices for the 10-year Treasury turned lower, eking yields up to 4.32% from Friday’s 4.31%. Treasury prices and yields move in opposite directions.
Oil prices increased $1.87 to $96.27 U.S. a barrel.
Gold prices slid $37.00 to $4,703.90 U.S. an ounce.
