Equity markets in Toronto trod water on Monday as gains in energy and gold stocks countered pressure from a spike in tensions in the Middle East.
The TSX Composite Index gave up 17.12 points to reach noon EST at 17,049
The Canadian dollar regained 0.12 cents to 77.10 cents U.S.
The largest percentage gainer on the TSX was Hudson's Bay Company, which jumped 95 cents, or 9.6%, to $10.83, after the company agreed to be taken private.
First Quantum Minerals fell 30 cents, or 2.4%, the most on the TSX, to $12.13, after the company adopted a shareholder rights plan.
On the economic front, Statistics Canada’s industrial product price index edged up 0.1% in November, mainly because of higher prices for meat, fish and dairy products.
The Raw Materials Price Index was up 1.5% in November, primarily because of higher prices for crude energy products.
ON BAYSTREET
The TSX Venture Exchange eased 4.12 points to 583.32
Seven of the 12 TSX subgroups were lower to begin the week, as health-care docked 1%, and the industrial and financials sectors each dumped 0.5%.
The five gainers were led by gold, ahead 1.7%, energy, gaining 1.3%, and materials, picking up 0.7%.
ON WALLSTREET
Equities dug themselves out of a hole midday Monday, recovering losses from earlier in the session as oil turned negative despite rising geopolitical concerns following last week’s assassination of a top Iranian military leader.
The Dow Jones Industrials came off its lows of the morning, but remained in the red 57.09 points to 28,577.79
The S&P 500 slipped 1.86 points to 3,232.99, after flirting with gains as the clock approached noon.
The NASDAQ recovered 12.71 points to 9,033.48.
Big tech stocks led the gains. Facebook and Amazon both rose around 1%. Netflix picked up 0.9%, and Google-parent Alphabet advanced 2.3%, after an analyst at Pivotal Research upgraded them to buy from hold. The analyst cited new potential revenue streams under new CEO Sundar Pichai.
President Donald Trump said Sunday he could slap sanctions on Iraq after its parliament passed a resolution calling for the government to expel foreign troops from the country.
Meanwhile, the Iranian regime said Sunday it would not abide by the uranium-enrichment limits set by the 2015 nuclear deal.
Prices for the 10-Year U.S. Treasury sank, raising yields to 1.81% from Friday’s 1.79%. Treasury prices and yields move in opposite directions.
Oil prices gained 16 cents to $63.21 U.S. a barrel.
Gold prices added $11.10 at $1,563.50 U.S. an ounce.
