Canada's main stock index fell at the open on Monday, dragged by declines in shares of energy companies as oil prices edged lower and trading volume remained low while stock exchanges in United States were shut for Martin Luther King Jr. Day.
The S&P/TSX Composite Index slipped 18.44 points to open Monday at 15,285.39. The index has produced 11 straight winning sessions, during which it had gained nearly a thousand points.
The Canadian dollar skidded 0.22 cents to 75.09 cents U.S.
Barclays cut the target price on CI Financial to $19.00 from $21.00. CI shares lost 26 cents, or 1.4%, to $17.90
CIBC cut the rating on Hudbay Minerals to neutral from outperform. Hudbay shares fell 21 cents, or 2.8%, to $7.29.
Barclays raised the target price on Teck Resources to $42.00 from $38.00. Teck shares gave back 30 cents, or 1%, to $30.33,
Overseas, in Japan, the Nikkei 225 gained 0.3% Monday, while in Hong Kong, the Hang Seng index grew 0.4%
Oil prices were static to $53.80 U.S. a barrel.
Gold prices slid $5.70 to $1,276.40 U.S. an ounce.
ON BAYSTREET
The TSX Venture Exchange inched higher 0.19 points to 595.70
All but two of the 12 TSX subgroups were on the downside as Monday opened, with health-care and materials each surrendering down 0.7% each, and gold down 0.4%.
The two gainers were real-estate, up 0.1%, and communications, eking up 0.01%.
ON WALLSTREET
Markets in the States are closed Monday for Martin Luther King Day.
