Equities in Toronto remained in the red by noon Easter Monday, as energy and mining concerns pulled back with oil prices slightly lower, while consumer names made some gains.
The S&P/TSX Composite Index dropped 54.62 points to greet noon at 13,303.49
The Canadian dollar recovered 0.5 cents to 75.86 cents U.S.
Canadian Natural Resources fell 1.9% to $34.54, and Canadian National Railway, which lost 1.2% to $79.53.
Potash Corp declined 1.9% to $22.20 and Goldcorp shed 2.1% to $20.48.
On the positive side, insurer Sun Life Financial rose 0.7% to $41.78, and National Bank of Canada, which advanced 0.8% to $41.89.
The consumer discretionary sector gained, with discount chain Dollarama up 1.1% at $80.31, fast food chain Restaurant Brands International adding 1.1% to $41.93, and Canadian Tire rising 1% to $133.48.
ON BAYSTREET
The TSX Venture Exchange faded 3.93 points to 576.13
All but three of the 13 TSX subgroups were negative, as metals and mining docked 2.3%, gold lost 2%, and materials fell 1.7%
The three gainers were consumer discretionary and financials, each of which rose 0.4%, while real-estate issues were better by 0.3%.
ON WALLSTREET
U.S. stocks found themselves mixed midday Monday as investors focused on oil prices and awaited data and comments from key Federal Reserve policymakers due later in the week.
The Dow Jones Industrials gained 10.07 points to 17,525.80. Boeing was the greatest decliner in the Dow, while 3M contributed the most to gains in late-morning trade.
The S&P 500 poked ahead 0.78 points to 2,036.72. Consumer discretionary stocks led S&P advancers in late-morning trade.
The NASDAQ index fell back 4.57 points to 4,768.94, as Microsoft and Apple traded lower.
Shares of Starwood Hotels & Resorts Worldwide and Marriott International were among the top gainers among discretionary stocks, following news China's Anbang Insurance has raised its offer for Starwood to almost $14 billion U.S., in the latest challenge to the U.S. hotel operator's merger with Marriott
Fed Chair Janet Yellen is due to speak Tuesday. Thursday marks the end of the quarter, while the jobs report and ISM manufacturing data are expected Friday.
In economic news, consumer spending edged up 0.1% in February, after January's figure was revised lower to show a 0.1% gain versus the previously reported 0.5% rise. Personal income rose 0.2%
Excluding food and energy, prices gained 0.1% after advancing 0.3% in January. In the 12 months through February, the so-called core PCE price index increased 1.7% after a similar increase in January.
The U.S. Department of Commerce also said the advance February goods trade deficit was $62.86 billion U.S.
The trade gap, wider than most expectations, and the downward revision in January consumption prompted several cuts to first-quarter GDP estimates.
The National Association of Realtors said its pending home sales index rose 3.5% to 109.1 last month, the highest level in seven months. January's reading was revised to show a 3% decline, which was deeper than initially reported
While U.S. markets were closed for Good Friday, the Commerce Department's third GDP estimate for the fourth quarter showed an annual growth rate of 1.4% instead of the previously reported 1% pace.
However, corporate profits declined for a second-straight quarter and fell 5.1% for all of 2015, their largest drop since 2008. Profits fell 0.6% in 2014.
Prices for the 10-year Treasury gained slightly, lowering yields to 1.87% from Thursday’s 1.9%. Treasury prices and yields move in opposite directions.
Oil prices dropped 23 cents a barrel to $39.23 U.S.
Gold prices picked up $1.91 to $1,218.96 U.S. an ounce.
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