Canada's main stock index see-sawed in early trade on Monday, as miners gave up oversized gains from late last week while banks and energy companies lent support.
The S&P/TSX Composite index moved up 25.30 points to begin Monday at 12,293.31
The Canadian dollar tailed off 0.02 cents Monday to 102.27 cents U.S.
On a day devoid of economic data north of the border, Canadian stocks to watch include commodities trader Glencore, which laid out its raised $36-billion all-share bid for Xstrata on Monday, warning it would not improve the terms again after making concessions to recalcitrant shareholders.
Talisman Energy Inc, Canada's number-five independent oil explorer, said Chief Executive John Manzoni has stepped down, effective immediately.
ON BAYSTREET
The TSX Venture Exchange gained 5.74 points to 1,282.45.
Eight of the 14 Toronto subgroups were higher at the outset. Global base metals and their cousins in the metals and mining sector vied for top spot, each gaining 1.7%, while energy stocks picked up 0.7%.
The half-dozen laggards were weighed mostly by health-care, which staggered 7.5%, while information technology lost 0.5%, and gold sagged 0.4%.
ON WALLSTREET
U.S. stocks edged lower Monday, as investors remain cautious ahead of a key decision out of Europe and the Federal Reserve's latest policy meeting.
The Dow Jones industrial average slipped 9.12 points to open Monday at 13,297.50
The S&P 500 index shed 1.51 points, to 1,436.41, and the tech-heavy Nasdaq Composite Index dropped 10.31 points to 3,126.12.
Investors are looking ahead to the Federal Reserve's two-day meeting, where it could announce new stimulus measures. The central bank meets Sept. 12-13.
Friday's weak jobs report prompted further speculation that the central bank will move forward with a new round of quantitative easing, a possibility Fed chairman Ben Bernanke alluded to in a speech last month.
Meanwhile, investors will be keeping tabs on Europe, as the German Constitutional Court is expected to hand down a ruling Wednesday that could impact the European Central Bank's plans to preserve the euro.
Shares of fashion label Michael Kors dipped 3% on news that the company plans for a secondary offering.
Later this week, Apple is expected to unveil details about the iPhone 5.
The price on the benchmark 10-year U.S. Treasury was unchanged, keeping yields at Friday’s 1.66%. Treasury prices and yields move in opposite directions.
Oil prices for September delivery lost 55 cents to $95.87 U.S. a barrel.
Gold futures for December delivery fell $8.30 to $1,732.20 U.S. an ounce.
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