Equities in Canada’s largest market edged lower on Monday as oil seesawed and gold fell to a three-and-a-half-month low, while financials firmed ahead of a potential increase in U.S. interest rates this summer.
The S&P/TSX Composite Index dipped 21.62 points to greet noon at 14,083.61
The Canadian dollar slid 0.17 cents to 76.58 cents U.S.
Suncor Energy’s facilities north of Fort McMurray, Alberta, are expected to partially restart by the end of the week, the company said on Sunday, the latest sign that Canadian oil sands producers are coming back online after a massive wildfire.
Still, Suncor's shares dipped 0.2% to $35.84, while Enbridge fell 1.4% to $52.02 as oil seesawed.
Barrick Gold Corp declined 0.6% to $21.65.
Financials stocks edged higher, including a 0.5% gain for Toronto-Dominion Bank to $57.93.
Telecommunications stocks also advanced, as BCE Inc climbed 0.6% to $60.81.
On the economic front, Statistics Canada says its industrial product price index declined 0.5% in April, led by lower prices for motorized and recreational vehicles, while higher prices for energy and petroleum products helped moderate the fall.
The agency’s raw materials price index increased 0.7%, during the same month, led by higher prices for crude energy products.
Oil prices regained 17 cents a barrel to $49.50 U.S.
Gold prices were off $4.73 to $1,207.65 U.S. an ounce.
ON BAYSTREET
The TSX Venture Exchange regained one point to 669.54.
Seven of the 13 TSX subgroups were higher, led by consumer staples, information technology and telecoms, each up 0.4%.
The five laggards were weighed most by metals and mining, down 1%, materials, down 0.6%, and energy, lagging 0.5%.
Financial stocks were unchanged midday.
ON WALLSTREET
Markets in the United States were closed for Memorial Day
