Canada’s main stock market staggered a bit on Monday with losses in oil and gas shares offsetting moderate gains in the heavily weighted financials group and most other sectors, but trade was quiet due to the U.S. Memorial Day holiday.
The S&P/TSX composite index remained negative 10.92 points to greet noon at 15,189.84
The Canadian dollar slumped 0.05 cents to 81.34 cents U.S.
Investors were looking ahead to Canadian bank quarterly earnings later this week, trying to assess the impact of a lackluster economy and low energy prices on the sector.
Financial stocks, which make up more than a third of the index's weight, were up with Brookfield Asset Management ahead 1% at $44.55 and Sun Life Financial also rising 1% to $40.46.
Eight of the 10 biggest drags on the TSX, however, were energy names. The most influential decliner was Enbridge, which fell 1.8% to $60.90. Canadian Natural Resources Ltd followed, declining 1.2% to $38.15.
The largest slumps were experienced by metals and mining issues, most notably First Quantum Minerals, which dove 28 cents, or 1.7%, to $16.17.
The biggest gains were seen among telecoms, especially TELUS Corp., jumping 32 cents, or 0.8%, to $42.41.
ON BAYSTREET
The TSX Venture Exchange fell back 1.8 points to 701.68
The 14 Toronto subgroups were evenly split between gainers and losers, telecoms leading the former group, soaring 0.5%, while utilities and real-estate gained 0.3% each.
The seven laggards were weighed by metals and mining, down 1%, energy, which slid 0.5%, and global base metals, off 0.2%.
ON WALLSTREET
Markets are closed Monday for the Memorial Day holiday
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