Canada's main stock index fell on Monday, dragged down by financials and mining stocks, while investors assessed softer-than-expected domestic inflation data for September ahead of the Bank of Canada's interest rate decision next week.
The TSX caved 247.72 points to 35,928.63.
The Canadian dollar pushed higher 0.05 cents to 70.88 cents U.S.
Reliance Worldwide said on Monday that no rival bidder emerged during the "go shop process under Brookfield's proposed acquisition of the Australian firm. Brookfield shares lost 31 cents to $51.46.
Air Canada fell 71 cents, or 3.2%, to $21.28, after brokerage Jefferies cut the stock's rating to "underperform" from "hold.”
Elsewhere, utility issues tumbled, with Canadian Utilities off $1.20, or 2.4%, to $48.79, while Emera lost $1.77, or 2.6%, to $65.71.
In real-estate, units of Allied Properties REIT ditched 24 cents, or 4.2%, to $5.44, while those for Granite REIT fell $1.87, or 2.2%, to $84.32.
Among consumer staple items, George Weston sank $2.22, or 2%, to $108.76, while Loblaw shares slid $1.35, or 1.9%, to $68.71.
Energy stocks tried to balance out the situation, with Vermilion Energy grabbing 57 cents, or 3.1%, to $19.22, while those for Spartan Delta surged 72 cents, or 5.2%, to $14.71.
In the tech sector, Docebo improved 91 cents, or 2.3%, to $40.00, while BlackBerry gained 18 cents, or 1.6%, to $11.59.
On the economic scene, Statistics Canada reported its Consumer Price Index rose 3.1% year over year in September, following a 3.0% increase in August. On a seasonally-adjusted monthly basis, the CPI increased 0.4% in September.
ON BAYSTREET
The TSX Venture Exchange inched up 1.41 points to 846.71.
All but two of the 12 subgroups were negative on the day, weighed most utilities, sliding 1.5%, while real-estate gave up 1.3%, and consumer staples declined 1.2%.
The lone gainers were energy, making their way up 0.6%, while information technology was up 0.2%.
ON WALLSTREET
The NASDAQ Composite rose on Monday as traders moved back into tech following last week’s artificial intelligence-related rout.
The Dow Jones Industrial index slid 36.38 points to 51,966.03
The S&P 500 index moved higher 31.29 points to 7,609.73
The tech-heavy index sprang 290.85 points, or 1.1%, to 26,430.89.
Intel advanced 2% after JPMorgan analysts upgraded their rating on the chipmaker. Advanced Micro Devices gained 1% and Micron Technology was up 2%.
However, neocloud mainstay CoreWeave reversed course from earlier gains, falling 3%, even after receiving an upgrade at Goldman Sachs.
The stock plunged more than 25% last week — its biggest one-week drop since November 2025 — over debt concerns.
It was the most net sold global sector last week, with hedge funds selling the largest percentage of tech on record, per Goldman Sachs.
Concerns around the health of the AI trade took center stage reports, that Anthropic’s third-quarter revenue totaled $16.8 billion. And while that’s up from $11.6 billion in the second quarter, it raised flags among investors about the pace of growth with the AI build-out.
Traders were also keeping a wary eye on oil markets with ship attacks in the Persian Gulf picking up and Ukraine and Russia trading attacks on energy infrastructure. Ukraine hit an oil terminal in St. Petersburg, Russia on Sunday. Longer-dated oil futures have begun to ratchet higher on expectations energy infrastructure disruptions may last well into 2027.
Prices for the 10-year Treasury were lower, driving up yields to 5.14% from Friday’s 5.09%. Treasury prices and yields move in opposite directions.
Oil prices reversed and gained $2.23 to $103.64 U.S. a barrel.
Gold prices subtracted $20.20 to $4,160.90 U.S. an ounce.
