Canada's main stock index edged lower on Monday, dragged by healthcare and resources stocks amid a broad sell-off, while investors awaited a busy week with the Bank of Canada's rate decision and key economic data releases in the United States.
The TSX Composite slumped 18.3 points Monday noon to 22,246.08.
The Canadian dollar gained 0.11 cents at 73.61 cents U.S.
Health-care shares declined 1.9%, pulled down by Bausch Health that lost 43 cents, or 3%, to $13.72. The pharmaceutical announced a patent lawsuit against Amneal Pharmaceuticals on Friday.
Perpetua Resources gained $1.21, or 18.7%, to $7.69 after the miner received a letter of interest from the U.S. Export-Import Bank (EXIM) for a loan worth up to $1.8 billion to develop an antimony and gold mine in northern Idaho.
ON BAYSTREET
The TSX Venture Exchange inched up 0.29 points to 584.62.
Eight of the 12 TSX subgroups were in the red by midday, with health-care tanking 1.3%, gold duller in price by 0.7%, and energy, off 0.5%.
The four gainers were led by consumer staples, ahead 0.5%, industrials, better by 0.4%, and financials, eking up 0.2%.
ON WALLSTREET
Stocks inched higher Monday as investors tried to regain their footing following a pullback last week.
The Dow Jones Industrial Average retreated 2.57 points to 38,901.47.
The S&P 500 added one point to 5,205.36.
The NASDAQ improved 20.82 points to 16,269.34.
Tesla shares were up more than 4% after CEO Elon Musk said the company’s robotaxi will be unveiled in early August.
Prices for the 10-year Treasury sagged, boosting yields to 4.43% from Thursday’s 4.4%. Treasury prices and yields move in opposite directions.
Oil prices faltered 78 cents to $86.13 U.S. a barrel.
Gold prices captured two dollars to $2,347.40 U.S. an ounce.
