Stocks on Bay Street fell a third day on Monday, as a rally led by raw-material producers in the first quarter shows signs of petering out.
The S&P/TSX Composite Index plummeted 104.29 points to close at 13,336.15
The Canadian dollar sank 0.36 cents to 76.49 cents U.S.
BlackBerry lost 23 cents, or 2.4%, for a second day of losses, slipping to a seven-week low of $9.51. The smartphone maker reported fourth-quarter sales short of analysts’ estimates on April 1, as it works to shift its business towards software and services.
First Quantum Minerals proved the biggest loser among metals and mining stocks, which took the majority of the lumps, doffing 40 cents, or 5.9%, to $6.41, and Teck Resources fell 55 cents, or 5.5%, to $9.55.
In the gold sector, Barrick Gold shed 14 cents to $17.64, while Columbus Gold unloaded half a cent, or 1.3%, to 40 cents.
Telecoms fared better, as BCE Inc. forged higher 44 cents to $59.85, while Rogers Communications added eight cents to $52.27.
ON BAYSTREET
The TSX Venture Exchange remained positive 1.34 points to 582.75
All but one of the 13 TSX subgroups were negative on the day, as metals and mining backtracked 4.8%, while gold and materials each 2.1%.
Telecoms gained 0.3%, the lone stalwart.
ON WALLSTREET
Stocks across the border closed lower Monday as pressure from a decline in oil prices mostly offset gains in health-care stocks.
The Dow Jones Industrials fell 55.75 points on the day to 17,737, with Nike leading decliners and Pfizer the top advancer.
The S&P 500 docked 8.33 points to 2,064.45, with industrials and materials off 1% to lead decliners.
The NASDAQ index slid 22.74 points to 4,891.80. Apple traded more than 1% higher to briefly top its 200-day moving average in intraday trade for the first time since Nov. 5. However, Facebook, Amazon.com, Cisco and Alphabet traded lower.
Edwards Lifesciences surged more than 15% to hit a new all-time high. Several brokerages raised their ratings on the stock after a study showed a less-invasive heart valve implant was superior to open surgery.
Federal Open Market Committee voting member Boston Fed President Eric Rosengren said he believed it will likely be appropriate to resume the path of gradual tightening sooner than is implied by financial market futures. He added the "U.S. has weathered foreign shocks quite well" and that risks from abroad are easing.
Alternate members Minneapolis Fed President Neel Kashkari and Dallas Fed President Rob Kaplan were due to give remarks in the evening. Fed Chair Janet Yellen is due to speak on Thursday.
In economic news, factory orders declined 1.7% in February.
Prices for the 10-year Treasury nicked up, lowering yields back to 1.77% from Friday’s 1.78%. Treasury prices and yields move in opposite directions.
Oil prices dipped 99 cents a barrel to $35.80 U.S.
Gold prices shed $7.35 to $1,215.25 U.S. an ounce.
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