CORRECTS EARLIER ERROR AMONG SUBGROUPS
Toronto and New York markets were lower Monday, as investors wait for a report from China that may show that the slow growth in the world's second-largest economy has continued.
The S&P/TSX composite index plummeted 132.19 points to greet noon at 15,133.16
The Canadian dollar backtracked 0.36 cents to 90.81 cents U.S.
Shares of energy producers shed strength, as Suncor Energy dropped 1.2% to $41.50, and Talisman Energy fell 1.4% to $9.92.
The gold-mining sector was down with Barrick Gold losing 1.3% to $16.88 and Goldcorp declining 1% to $25.64.
In corporate news, Tekmira Pharmaceuticals said that U.S. and Canadian regulators have authorized the use of its Ebola treatment in patients who have confirmed or suspected infections from the deadly virus. Shares of the drug maker jumped 9% to $24.65.
A Reuters poll showed growth in the Chinese factory sector probably stalled in September. Further, the country's finance minister said that China will not dramatically alter its economic policy because of any one economic indicator.
Canadian retail sales for July will be released Tuesday, with analysts expecting a bump of 0.4% year-over-year.
ON BAYSTREET
The TSX Venture Exchange slid 19.20 points to 935.86.
All but three of the 14 Toronto subgroups were lower by noon, with global base metals down 2.4%, metals and mining off 2.3%, and energy slipping 2%.
The three gainers were telecoms, up 0.4%, consumer staples, up 0.3%, and consumer discretionaries, inching up 0.03%.
ON WALLSTREET
U.S. stock investors turned skittish, sending prices lower on Monday as they fretted about falling commodity prices and concerns about global growth.
The Dow Jones Industrials was down 76.64 points to break for lunch at 17,203.10
The S&P 500 dipped 16.59 points to 1,993.81. The NASDAQ lost 59.92 points to 4,519.87.
Alibaba shares fell 2.3% on the second day of trading. With the e-commerce company’s underwriters set to exercise an option to sell additional shares, the IPO is now officially the world’s largest
Shares in Apple, Inc. rose 0.4%, after the company said iPhone 6 sales topped 10 million during the first weekend, a new Apple record.
AutoZone Inc. reported fiscal-fourth quarter earnings that topped estimates, but sales were slightly below forecasts. Shares were off 2.4%.
Dresser-Rand Group Inc. gained 2.7% after German engineering company Siemens AG announced a deal to buy the U.S. oil-equipment maker for $7.6 billion U.S.
Shares of Sigma-Aldrich Corp. soared 35% after Merck & Co. Inc. said Monday it will pay $140 U.S. per share for the life-science and technology company, a price that values the company at around $17 billion U.S.
Data released on Monday shows U.S. economic activity was lackluster in August. Sales of existing homes unexpectedly declined in August, for the first time in five months, the National Association of Realtors reported Monday. NAR attributed the drop to fewer all-cash sales to investors.
Prices for 10-year U.S. Treasuries gained ground, lowering yields to 2.55% from Friday’s 2.59%. Treasury prices and yields move in opposite directions.
Oil prices dropped 85 cents to $91.56 U.S. a barrel.
Gold prices stepped back 20 cents to $1,216.40 U.S. an ounce.
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