Canada's main stock exchange was nearly unchanged on Monday, with stronger metals stocks offset by weaker gold prices as optimism from stronger-than-expected manufacturing data out of China tempered worries over U.S. fiscal concerns.
The S&P/TSX composite index tailed off 4.28 points in the first hour to 12,235.08
The Canadian dollar was down 0.10 of a cent to 100.56 cents U.S.
Health-care stocks took the biggest hit in the early going, with Nordion Inc. off 1.5% to $6.50.
Among gold issues, Alacer Gold Corp. suffered a loss of 2.7% to $4.40. Barrick Gold was down 0.8% to $34.23 and Goldcorp. doffed 1.8% to $38.03.
Among the metals and mining issues, Taseko Mines jumped 1.4% to $2.82, while Teck Resources climbed 1.2% to $34.02.
ON BAYSTREET
The TSX Venture Exchange subtracted 5.73 points to 1,215.17
Eight of the 14 Toronto subgroups began the day, week and month in negative territory. Health-care stocks were 0.6% less robust, while gold demurred 0.3%, and financials took a hit of 0.2%.
The five gainers were led by metals and mining, ahead 0.5%, consumer staples, improving 0.4%, and global base metals, inching up 0.2%.
Telecoms were flat to begin December.
ON WALLSTREET
Stocks opened decidedly mixed Monday but the gains lacked conviction as the number of fiscal cliff negotiating days dwindles.
The Dow Jones Industrials was off 0.29 points Monday to 13,025.30
The S&P 500 moved 2.89 points higher to 1,419.07 and the Nasdaq Composite Index gained 11.15 points to 3,021.39
After a fairly static November, some investors are expecting a rebound in December, if history is any guide. December has been the strongest month of the year for stocks over the past 30 years, as investors close out positions and square portfolios, according to research from Schaeffer's Investment Research. There hasn't been a negative December since 2007.
No major corporate results are due Monday, though data will be released shortly after the opening bell on construction spending and manufacturing, as well as on November auto sales.
Among the movers in early trading, shares of computer maker Dell jumped more than 5% after Goldman Sachs upgraded its stock from sell to buy.
Shares of Yahoo edged lower after a civil court in Mexico issued a non-final judgment of $2.7 billion U.S. against Yahoo Inc. and Yahoo de Mexico, S.A. in a breach of contract lawsuit related to a yellow pages listing service.
Bank of America shares rose following reports over the weekend that the bank was backing down on instituting new fees this year that would have impacted more than 10 million customers.
Dean Foods announced plans to sell its Morningstar division, which makes "extended shelf-life" products, to Saputo Inc. for $1.45 billion U.S.
Shares of BlackBerry-maker Research in Motion slipped after being downgraded by Canaccord Genuity, which cited concerns about the BlackBerry 10.
Treasury prices lost some strength, boosting yields on the 10-year note to 1.64% from Friday’s 1.62%. Treasury prices and yields move in opposite directions.
Oil prices gained $1.14 to $90.05 U.S. a barrel.
Gold prices grew $7.30 an ounce to $1,720 U.S.
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