Equities in Toronto fell on Monday, weighed by energy and mining stocks that retreated along with oil and gold prices.
The S&P/TSX Composite reversed 110.89 points to greet noon at 14,489.77
The Canadian dollar dropped 0.58 cents to 75.58 cents U.S.
The most influential weights on the index included its biggest gold miners and oil and gas producers, with Barrick Gold down 3.3% at $26.14 and Suncor Energy falling 1.5% to $35.47.
The energy group retreated, as crude fell to two-and-a-half month lows amid worries about a global supply glut and economic headwinds.
Gold fell as the U.S. dollar firmed ahead of central bank meetings in the United States and Japan.
The world's major economies pledged at a G20 meeting this past weekend to use all policy tools available to boost growth.
The most influential gainers on the index included Valeant Pharmaceuticals International Inc, which rose 3% to $30.92 after a sharp fall in the previous session, and Rogers Communications Inc, which added 1% to $57.40.
Utility company TransAlta Corp gained 4.8% to $6.40.
ON BAYSTREET
The TSX Venture Exchange slid 2.98 points to 766.99
Nine of the 13 subgroups moved downward, with energy down 3.1%, gold sliding 2.6%, and materials suffering 2%
The four gainers were pulled upwards by information technology, clicking up 0.9%, telecoms, up 0.2%, and real-estate, nosing up 0.1%.
ON WALLSTREET
U.S. stocks traded lower Monday, with energy stocks weighing as oil prices declined, as investors looked ahead to major earnings reports and central bank meetings.
The Dow Jones Industrials retreated 103.44 points to 18,467.41. Chevron, Exxon Mobil and UnitedHealth contributed the most to declines in the Dow, which, even so, is up 3% for the month so far.
The S&P 500 slid 11.46 points to 2,163.57. Energy briefly traded more than 2% lower as the greatest declining S&P 500 sector as all 10 traded lower.
The NASDAQ dropped 11.88 points to 5,088.28
In corporate news, Verizon announced Monday plans to acquire Yahoo for $4.8 billion U.S. in cash.
Apple is scheduled to report earnings Tuesday after the close. 3M, Caterpillar, DuPont, McDonald's, United Technologies and Verizon are due to post results ahead of the open.
The U.S. Federal Reserve is scheduled to conclude its two-day meeting Wednesday afternoon. While the central bank is not generally expected to raise rates, indications in the statement on the timing of the next hike will be key.
Prices for the 10-year Treasury skidded, raising yields to 1.57% from Friday’s 1.56%. Treasury prices and yields move in opposite directions.
Oil prices backtracked $1.04 a barrel to $43.15 U.S.
Gold prices subtracted four dollars to $1,319.40 0 U.S. an ounce.
