The downward progress of oil stocks weighed again on markets throughout North America, which lost whatever momentum they’d had in the morning.
The S&P/TSX composite index fell 81.58 points to greet noon at 13,649.47
The Canadian dollar dipped 0.30 cents to 85.95 cents U.S.
Shares of Calgary-based Talisman, Canada's fifth-largest independent petroleum producer, jumped almost 20% to $6.05, after Spanish oil major Repsol said it was considering a bid.
Canadian Natural Resources was down 1.4%at $32.71, while Potash Corp was up 1.7% at $40.25.
Health-care issues also took a knock, as Catamaran docked $1.02, or 1.8%, to $55.82.
The Canadian Real Estate Association reported national home sales activity was unchanged on a month-over-month basis in November 2014. Actual (not seasonally adjusted) activity stood 2.7% above November 2013 levels.
ON BAYSTREET
The TSX Venture Exchange shed 4.84 to 648.94
All but two of the 14 Toronto subgroups were lower by noon, as energy and health-care stocks each stepped back 1.5%, while metals and mining lost 0.8%.
The two gainers were consumer staples, inching forward 0.3%, and consumer discretionaries, gaining 0.2%.
ON WALLSTREET
U.S. stocks turned lower on Monday, extending the prior week's drubbing, as the price of oil continued to fall.
The Dow Jones Industrials capsized 159.88 points by noon to 17,120.95, with McDonald's leading blue-chip losses that included 27 of 30 components.
The S&P 500 backslid 17.88 points to 1,984.45, with financials pacing losses that extended to all 10 of its major sectors
The NASDAQ index dipped 57.44 points to 4,596.16
PetSmart gained after agreeing to be purchased for about $8.25 billion U.S. by a group led by BC Partners.
Equities offered muted reaction to a gauge of home-builder sentiment falling a point in December after a large jump last month.
What’s more, a U.S. Federal Reserve report had industrial production rebounding in November, after a Fed measure of manufacturing in the New York region dropped in December.
Prices for 10-year U.S. Treasuries inched higher, lowering yields to 2.09% from Friday’s 2.10%. Treasury prices and yields move in opposite directions.
Oil prices collapsed $1.28 per barrel to $56.53 U.S.
Gold prices slipped $5.80 an ounce at $1,216.70 U.S.
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