Equities in Canada’s largest centre opened lower on Monday, with most of the index's main sectors losing ground and U.S. markets closed for the Memorial Day holiday.
The S&P/TSX composite index slipped 3.61 points to open Monday at 15,197.15
The Canadian dollar slumped 0.04 cents to 81.35 cents U.S.
BlackBerry is cutting jobs across the globe, the company said on Friday, as it consolidates its software, hardware and applications business. The company did not specify how many employees would be affected. The company is reallocating resources to capitalize on growth opportunities and achieve profitability across all its business segments, a company spokeswoman said in an e-mailed statement.
BlackBerry shares began the day up four cents to $12.92.
Cenovus Energy Inc. has evacuated about 1,800 workers and shut down production at its Foster Creek oil sands site in Alberta as a precaution because of a nearby forest fire, the company said. There was still no direct threat from the fire to Cenovus operations as of Sunday morning, said a company spokeswoman. The company had said on Saturday that the fire was about 30 kilometers south of the facilities and had shut the only access road to the operations.
Cenovus shares retreated 23 cents, or 1.1%, to $21.10.
Separately, Canadian Natural Resources Ltd has also evacuated personnel from its Primrose oil sands project due to the nearby fire, with about 80,000 barrels per day of crude oil production shut in.
Natural Resources shares dipped 18 cents to $38.43.
Hudson's Bay Company will likely decide by early June whether to submit a bid to buy German department store chain Kaufhof from the Metro group, two people familiar with the matter said on Sunday.
Austrian investor Rene Benko, who owns rival department store chain Karstadt, has already offered to buy Kaufhof for 2.9 billion euros, a person familiar with the matter told Reuters earlier this month. Metro confirmed on Wednesday that it was in talks for the sale of Kaufhof but said it had not reached any decisions yet.
Shares in the chain colloquially known as "The Bay" gained 14 cents to $26.39.
Paradigm Capital cut the price target on Taseko Mines Ltd to $2.00 from $3.75 to reflect a potential fourth expansion of the company's Gibraltar mine. The news sent Taseko shares down a penny to 94 cents.
Paradigm Capital also cut price target on Thompson Creek Metals Company Inc. to $2.00 from $2.50 considering that the company’s molybdenum mines have been suspended leaving only the Langloth metallurgical facility operating. Thompson Creek shares also shed a penny to $1.32.
ON BAYSTREET
The TSX Venture Exchange inched up 0.43 points to 703.91
Eight of the 14 Toronto subgroups were higher in the first hour of trade, as telecoms moved higher 0.4%, real-estate and health-care each gathering 0.2%.
The half-dozen laggards were co-weighed by energy and metals and mining, each dropping 0.4% of their strength, while materials sagged 0.1%.
ON WALLSTREET
Markets are closed Monday for the Memorial Day holiday
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