Canadian stocks opened lower on Monday amid investor concerns over the situation in Ukraine and the potential for more sanctions.
The S&P/TSX composite index hesitated 21.50 points to begin the day and week at 15,245.07
The Canadian dollar slipped 0.10 cents to 93.06 cents U.S.
A Canadian National Railway train derailed in Wisconsin on Sunday night, spurring local residents to move to safer locations, according to the railway and media reports. CN shares lost a penny to $73.07
Encana Corp. may sell its Deep Panuke natural gas project, off Nova Scotia's Atlantic coast, by year’s end, Bloomberg News reported on its website. Encana shares ditched 23 cents to $23.01.
CIBC cut the rating on Total Energy Services to sector performer from outperform. Total shares fell 60 cents each to $22.25.
Raymond James raised the rating on Toromont Industries to outperform from market perform. Toromont shares took on 18 cents to $26.18.
ON BAYSTREET
The TSX Venture Exchange fell 1.06 points to 1,011.18.
All but two of the 14 Toronto subgroups were lower at the outset, as gold and energy each slid 0.4%, and materials shed 0.3%.
The two gainers were health-care, up 0.8%, and industrials, inching up 0.2%.
ON WALLSTREET
Stocks are off to a rough start Monday after last week's geopolitical shocks in Ukraine and Gaza continue to spook the market.
The Dow Jones Industrials skidded 90.83 points to 17,009.35.
The S&P 500 fell 8.15 points to 1,970.07, and the NASDAQ composite demurred 17.84 points to 4,414.31
Tobacco stocks are wilting in the face of a potential $23.6-billion U.S. jury award to the Florida widow of a man who died from lung cancer.
Reynolds American fell 2.6% in early trading, and Lorillard, which Reynolds agreed to buy last week, is down 2%. Philip Morris shares fell nearly 1%, and Altria Group was down about 1.5%.
Fast food giants McDonald's and Yum! Brands,which runs KFC, Taco Bell and Pizza Hut, are dealing with a tainted meat scandal in China.
McDonald's' cut ties to a meat supplier after supposedly buying tainted beef and Yum did the same when it ran into tainted chicken. Yum shares are down 2.8% in early trading and McDonald's stock is off 0.6%.
Fighting in Ukraine has intensified early this week, and European markets are broadly lower.
Prices for 10-year U.S. Treasuries gained bit of ground, lowering yields to 2.47% from Friday’s 2.48%. Treasury prices and yields move in opposite directions.
Oil prices gained 48 cents to $103.61 U.S. a barrel.
Gold prices added $5.10 to $1,314.50 U.S. an ounce.
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