Canada's main stock index fell on Monday, in a broad rout that tracked global equities, which fell on the heels of a more than 8% plunge in Chinese stocks.
The S&P/TSX composite index faded 123.62 points to wind into noon hour ET at 14,062.62
The Canadian dollar gained 0.19 cents to 76.84 cents U.S.
Among oil and gas companies, Enbridge slid 1.6% to $54.52, while Suncor Energy retreated 1.3% to $32.66.
Toronto Dominion Bank led the fall in financials with a 1.3% slide to $51.17, while Royal Bank of Canada declined 1.2% to $73.67.
Restaurant Brand International, formed out of Burger King's takeover of Canadian coffee and doughnut chain Tim Hortons, was among the few gainers. Shares rose 3.5% to $54.03, after it reported a better-than-expected quarterly profit due to strong sales.
ON BAYSTREET
The TSX Venture Exchange remained lower 6.57 points to 585.91.
All but two of the 14 TSX subgroups were lower midday, as energy fell 1.8%, information technology slid 1.6%, and metals and mining plummeted 1.5%.
The two gainers were health-care and gold, each up 0.1%.
ON WALLSTREET
U.S. stocks traded lower on Monday as the continued decline in commodities and an overnight plunge in Shanghai stocks pressured sentiment amid a lackluster earnings season.
The Dow Jones industrial average surrendered 129.01 points to open the week at 17,439.52, with Boeing leading decliners and Intel the greatest advancer.
The S&P 500 dropped 8.44 points to 2,071.21, with energy leading seven sectors lower and utilities the greatest advancer.
The NASDAQ index faltered 38.42 points to 5,050.21
The Chinese search engine firm Baidu posts results after the close. Several Internet giants reporting results over the next few days include Twitter on Tuesday, Facebook on Wednesday and LinkedIn on Thursday.
In corporate news, Israel's Teva Pharmaceutical said it will buy Allergan's generic pharmaceuticals business for $40.5 billion U.S.
U.S. regulators fined Fiat Chrysler a record $105 million U.S. for lapses in safety recalls.
Economically speaking, June durable goods data showed an increase of 3.4%, beating expectations slightly.
Mainland Chinese stocks extended Friday's losses, with the Shanghai Composite dropping nearly 8.5% for its largest one-day loss since 2007. The Hang Seng closed about 3% lower.
Prices for 10-year U.S. Treasuries gained, lowering yields to 2.24% from Friday’s 2.26%. Treasury prices and yields move in opposite directions.
Oil prices gave back 54 cents a barrel to $47.60 U.S.
Gold prices hiked $11.40 to $1,096.90 U.S. an ounce.
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