Stocks Up… Slightly

Norbord, Polaris in Focus

Stocks in Canada’s biggest centre were little changed shortly after the open on Monday as gains in energy stocks, helped by higher oil prices, were offset by declines in materials.

The S&P/TSX Composite Index gathered 13.37 points to open Monday at 15,467.60

The Canadian dollar added 0.13 cents to 81.14 cents U.S.

U.S. trade negotiators will only partially unveil new text on modifying a key chapter on investment under NAFTA, two well-placed sources said on Sunday, underlying the cautious pace of talks that are supposed to wrap up by the end of the year.

Chilean media outlets reported Saturday that Potash Corporation Of Saskatchewan Inc has hired Goldman Sachs and BofA Merrill Lynch to explore selling its 32% stake in Chile's Sociedad Quimica Y Minera.

Shares in Potash subtracted four cents to $23.75.

RBC raised the target price on Norbord Inc. to $58.00 from $50.00. Norbord shares dropped 37 cents to $48.59.

Eight Capital raised the price target on Polaris Materials to $3.40 from $2.79. Polaris shares fell two cents to $3.58.


The TSX Venture Exchange picked up 2.77 points to 780.87

Seven of the 12 TSX subgroups were negative, weighed most heavily by information technology, down 0.7%, while materials and industrials were off 0.5% each.

Energy headed the five gaining groups, ahead 1.3%, while health-care took on 1%, and financials prospered 0.2%.


U.S. stocks traded mostly lower Monday as declines in technology stocks offset gains in energy stocks.

The Dow Jones Industrials gained 9.18 points Monday to 22,358.77. Exxon Mobil and Chevron had the greatest positive impact on the Dow. Apple was among the stocks with the greatest negative impact on the stock index.

The S&P 500 removed 0.09 points to 2,502.13. Information technology led decliners, while energy led seven sectors higher.

The NASDAQ slid 25.55 points to 6,401.38.

Apple shares briefly fell more than 1% tracking for a fourth straight day of losses. The stock fell 5% last week, its worst week in more than a year, after Friday's launch of the iPhone 8 and some other products in stores.

On Monday, Citi Research predicted lower than expected demand for the iPhone 8 and lowered earnings and sales estimates for Apple. The company did not immediately respond to a request for comment.

Facebook shares fell 3%. The social media giant dropped a proposal for the social media giant to issue a new class of shares that would have allowed CEO Mark Zuckerberg to keep voting control and fund the company's philanthropic efforts.

Stocks opened lower after populists gained ground in a Sunday election in Germany and investors weighed the likelihood of another interest rate hike this year.

Prices for the benchmark 10-year Treasury note gained slightly, lowering yields to 2.25% from Friday’s 2.26%. Treasury prices and yields move in opposite directions.

Oil prices gained 62 cents a barrel to $51.28 U.S.

Gold prices subsided 30 cents to $1,297.20 U.S. an ounce