Stocks in Canada’s largest market were barely lower in early trade on Monday, as financial stocks pulled back after sharp gains to end last week and gold miners pushed higher with bullion hitting its highest price since November.
The S&P/TSX Composite tailed off 7.55 points to open the week at 15,468.84
The Canadian dollar deferred 0.44 cents at 76.38 cents U.S.
Israel's Delek Group has offered to buy Ithaca Energy in a deal valuing the North Sea oil producer's equity at $646 million U.S. and building on Delek's expansion in the North Sea ahead of a planned London listing.
Ithaca shares took on 21 cents, or 11.8%, to $1.95.
Canaccord Genuity cut the target price on Altagas Ltd. to $33 from $35, reflecting dilution from the $2.5-billion subscription receipt offering and higher debt levels.
Altagas shares increased eight cents to $31.22.
CIBC raised the target price on Information Services Corp. to $21.50 from $19 expecting several opportunities for the company to provide registry services in Australia.
Information Services stock soared 33 cents, or 1.7%, to $19.80.
Absolute Software reports Q2 earnings today, but projects a loss of two cents per share. Absolute shares dropped two cents to $6.91.
Toromont Industries expects Q4 earnings of 57 cents per share. Toromont shares grew 36 cents to $42.16.
ON BAYSTREET
The TSX Venture Exchange gained 6.04 points to 824.32
All but three of the 12 subgroups began the day negative, as consumer staples fell 0.6%, information technology slid 0.5%, and energy dipped 0.3%.
The three gainers were gold, up 1.7%, health-care, up 1%, and materials, better by 0.8%.
ON WALLSTREET
U.S. equities traded mostly lower on Monday as worries about the White House's policy agenda lingered, while earnings season continued.
The Dow Jones Industrials dipped 0.74 points to 20,070.72, with Goldman Sachs showing the most strength
The S&P 500 faded 3.21 points to 2,294.21, with real estate leading decliners
The NASDAQ stepped back 6.63 points from its record high to 5,660.13
On the earnings front, toy maker Hasbro reported better-than-expected earnings and revenue. Companies scheduled to report Monday after the bell include 21st Century Fox, Tesoro and Boardwalk Pipeline.
On Sunday, the 9th U.S. Circuit Court of Appeals denied the Justice Department's request to reinstate an executive order that barred entry into the U.S. citizens from seven Muslim-majority countries.
Prices for the benchmark 10-year Treasury note gained, lowering yields to 2.45%, from Friday’s 2.48%. Treasury prices and yields move in opposite directions.
Oil prices dropped 13 cents to $53.70 U.S. a barrel
Gold prices gained $7.50 to $1,228.30 U.S. an ounce.
