Equities in Canada’s largest market failed to hold onto gains, as health-care losses left bruises over the market in general.
The S&P/TSX Composite Index dropped 64.48 points to finish Monday 15,568.85
The Canadian dollar declined 0.15 cents to 75.17 cents U.S.
Health-care stocks took the worst blows, as Aurora Cannabis gave back 38 cents, or 3.8%, to $9.57, and Canopy Growth dwindled $2.95, or 4.9%, to $57.28.
In communications, BCE dropped 28 cents to $57.06, while Rogers slid $1.01, or 1.4%, to $70.93
Industrials also suffered some losses, as the beleaguered SNC-Lavalin Group was roughed up $2.81, or 7.6%, to $33.90, after the construction and engineering firm cut its full-year profit forecast due to mining dispute in Latin America.
Canadian Pacific Railways doffed $2.20 to $263.59.
Energy stocks tried to make up for all the gloom, as Imperial Oil forged ahead 13 cents to $35.62, while Suncor Energy took on 14 cents to $42.95.
Consumer discretionary stocks also did their bit, as Canada Goose Holdings rose $1.86, or 2.5%, to $76.42. Magna International took on 40 cents to $66.76.
Tech stocks were only mildly in the green by the close, as BlackBerry gained 23 cents, or 2.1%, to $10.97.
ON BAYSTREET
The TSX Venture Exchange settled 3.68 points on the day to 608.26
Eight of the 12 TSX subgroups remained lower on the day, as health-care docked 2.7%, while communications fell 1.1%, and industrials slid 1%.
The four gainers were led by energy, gushing 0.8%, consumer discretionary, better by 0.3%, and information technology, eking up 0.1%.
ON WALLSTREET
Stocks wobbled on Monday as investors weighed the possibility of the U.S. and China striking a deal to end the ongoing tariff war.
The Dow Jones Industrial Average lost 53.22 points to 25,053.11
The S&P 500 edged up 1.92 points to 2,709.80, as gains in the industrials sector were capped by losses in health-care and communications services.
The NASDAQ Composite gained 9.71 points to 7,307.02
Tesla shares gained more than 2.3% after an analyst at Canaccord Genuity upgraded them to buy from hold. The analyst also hiked his price target to $450 a share from $330, implying a 47% upside over the next 12 months.
Avis Budget Group jumped 7.4% after Goldman Sachs upgraded the car-rental company to buy from sell, noting an attractive valuation at current levels.
Axios reported on Sunday, citing two administration officials, that President Donald Trump's advisors have informally discussed holding a summit with Chinese President Xi Jinping next month at the Mar-a-Lago, Trump's private club in Florida.
This meeting could take place as soon as mid-March, the report said. However, the officials cited in the story added that nothing has yet been set.
That report comes after Trump said last week that a meeting between him and Xi would not happen before an early March deadline. If a trade deal is not reached before the deadline, additional U.S. tariffs on Chinese goods will take effect. That deadline could be moved, however, according to reports.
The trade negotiations come amid slowing economic data out of China. Spending growth in China's Lunar New Year fell to its lowest since 2005. Last month, the Chinese government revealed the country's economy grew at its slowest pace in 28 years.
Tesla shares gained more than 3% after an analyst at Canaccord Genuity upgraded them to buy from hold. The analyst also hiked his price target to $450 a share from $330, implying a 47% upside over the next 12 months.
Prices for the benchmark 10-year U.S. Treasury lost ground, boosting yields to 2.66% from Friday’s 2.64%. Treasury prices and yields move in opposite directions.
Oil prices lost 29 cents to $52.43 U.S. a barrel.
Gold prices docked $6.80 to $1,311.700 U.S. an ounce.
