Stocks in Toronto edged up on Monday as higher oil prices lifted energy shares, offsetting declines led by mining issues and Bombardier Inc.
Health-care and gold stocks were among the biggest gainers, however.
The S&P/TSX Composite Index improved 20.67 points to greet noon at 15,474.90
The Canadian dollar added 0.08 cents to 81.09 cents U.S
The energy group climbed, with Pembina Pipeline Corp rising 3.3% to $43.50 and Encana Corp advancing 1.3% to trade at $14.07.
Oil rallied after major producers said the global market was on track towards rebalancing, while Turkey threatened to cut oil flows from Iraq’s Kurdish region.
Bombardier Inc shares sank 7.6 percent to C$2.06, extending previous losses to hit a more than four-month low on news that Siemens AG will likely choose French rival Alstom SA over the Canadian company in a multibillion-dollar rail merger.
The Montreal-based plane and train maker is also awaiting a U.S. court ruling on a CSeries dumping complaint by Boeing Co.
The industrials group fell off as Canadian National Railway, a hefty member of the sector, was down 0.9% to $100.19.
The materials sector which includes precious and base metals miners as well as fertilizer companies, were among the biggest drags on the index.
Teck Resources fell 2.8% to $26.34, while First Quantum Minerals gave back 1.9% to $13.77.
ON BAYSTREET
The TSX Venture Exchange picked up 3.31 points to 781.41
The 12 TSX subgroups were evenly divided between gainers and losers, with health-care haler by 1.5%, gold shining 1.3% brighter, and energy 1.1% more energetic.
The half-dozen laggards were weighed most by industrials, edging lower 0.4%, telecoms, fading 0.3%, and consumer discretionaries, tailing off 0.2%.
ON WALLSTREET
U.S. stocks traded lower Monday as declines in technology stocks more than offset gains in energy stocks.
The Dow Jones Industrials faltered 92.11 points Monday to 22,257.48, Boeing, Visa and McDonald's contributed the most to declines.
The S&P 500 deducted 11.28 points to 2,409.54. Information technology fell more than 1% as the greatest decliner in the S&P 500.
The NASDAQ stumbled 73.46 points, or 1.2%, to limp into the afternoon at 6,353.22
Apple shares 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 3.5%. 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.
Other tech-related stocks also declined. Amazon.com traded more than 1% lower. Netflix fell more than 3.5%.
Energy stocks rose more than 1% to lead advancers in the S&P 500. Exxon Mobil and Chevron had the greatest positive impact on the Dow.
The Dallas Fed manufacturing index said its read on general business activity index rose in September to a seven-month high of 21.3.
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, lowering yields to 2.22% from Friday’s 2.26%. Treasury prices and yields move in opposite directions.
Oil prices gained 96 cents a barrel to $51.62 U.S.
Gold prices changed gears and gained $11.20 to $1,308.70 U.S. an ounce
