TSX Down by Noon Hour

Gold Stocks Prove Greatest Weight

Canada's main stock index fell on Monday, as an early rise in energy shares was offset by losses in the technology sector.

The S&P/TSX Composite had lost 37.87 points to move into noon hour ET at 16,497.46.

The Canadian dollar eked up 0.10 cents to 76.03 cents U.S.

Biggest loser among tech stocks were shares of Shopify, which slid $23.89., or 4.8%, to $477.81 followed by a 29-cent, or 3.1%, decline in those of BlackBerry to $9.19.

On the other hand, the energy sector jumped 2% as oil prices rose after the new Saudi Arabian energy minister, Prince Abdulaziz bin Salman, confirmed expectations that there would be no radical change in his country's oil policy.

Top percentage gainers on the TSX were shares of energy companies Nuvista Energy, which jumped 20 cents, or 10.3%, to $2.14, and Nexgen Energy, which rose 10 cents, or 5.8%, to $1.83

Pretium Resources fell $1.52, or 8.9%, the most on the TSX, to $15.66, followed by shares of Hudson's Bay, down 32 cents, or 3.2%, to $9.77


The TSX Venture Exchange erased 1.58 points to 586.43

All but three of the 12 Toronto subgroups went for a dive in the first hour, as information technology tumbled 2%, industrials slipped 1%, and communications lost 0.5%.

The three gainers were energy, growing 2.8%, financials, richer by 0.4%, and consumer staples, up 0.3%.


Stocks traded higher on Monday, approaching record levels, amid increasing optimism around U.S.-China trade relations.

The Dow Jones Industrial Average 72.59 points to 26,870.05

The S&P 500 gained 3.94 points to 2,982.53

The NASDAQ Composite 8.22 points to 8,111.29

The S&P 500 was about 1.6% from its record high set in late July entering the session. The Dow and NASDAQ entered the session more than 2% from their all-time highs.

Bank shares contributed to Monday’s gains. J.P. Morgan Chase climbed 2.1%. Citigroup advanced 3.1% while Bank of America gained 2.6%.

AT&T shares rose 4.3% after Elliott Management revealed a $3.2-billion stake in the telecom giant. In a letter to shareholders, Elliott said AT&T can "improve its business and realize a historic increase in value."

China offered last week to increase purchases of U.S. agricultural products if the U.S. eased restrictions on telecom giant Huawei, Politico reported on Friday. China’s offer could also be contingent on the U.S. delaying higher tariffs on about $250 billion worth of Chinese imports

Prices for the benchmark 10-year U.S. Treasury sank sharply, lifting yields to 1.62% from Friday’s 1.56%. Treasury prices and yields move in opposite directions

Oil prices heightened $1.53 to $58.05 U.S. a barrel.

Gold prices dipped $5.60 to $1,509.90 U.S. an ounce.

Equities Rise on Renewed Trade Hope