Stocks in Canada’s biggest market remained slightly negative mid-Monday, as banks fell with a retreat in overseas equities markets, but losses were cushioned by companies gaining on domestic merger activity.
The S&P/TSX Composite moved doggedly to within 11.27 points of breakeven the greet noon at 14,528.73
The Canadian dollar dropped 0.13 cents at 76.5 cents U.S.
Open Text Corp soared 7.8% to $84.02 after the software company said it had agreed to buy Dell-EMC's enterprise content division for $1.62 billion.
Potash Corp rose 1.7% to $22.51 after agreeing to merge with Agrium Inc in a deal that would create a fertilizer giant with an enterprise value of about $36 billion but could draw scrutiny from U.S regulators.
Agrium rose initially before turning negative and was last down 0.9% at $123.01.
The heavyweight financials group fell, with Royal Bank of Canada down 0.6% at $80.21 and Bank of Nova Scotia off 0.8% to $69.20.
ON BAYSTREET
The TSX Venture Exchange faded 5.48 points to 806.6 8
The 12 TSX subgroups was evenly split between gainers and losers, as gold and information technology each soared 1.7%, while materials gained 0.9%.
The half-dozen laggards were weighed most by telecoms, down 0.5%, while financials and real-estate each moved lower 0.4%.
ON WALLSTREET
U.S. stocks rose in choppy trade on Monday on the heels of a global equities sell-off as investors wondered when the Federal Reserve will raise interest rates and kept an eye on the U.S. elections.
The Dow Jones Industrials regained 69.47 points to 18,154.92, after a near-400-point drop on Friday, with Apple leading advancers and DuPont the greatest laggard.
The S&P 500 recouped 11.02 points to 2,138.83, with telecoms and information technology leading all sectors higher.
The NASDAQ Composite recovered 39.26 points to 5,165.17, also with Apple hiking gains.
Prices for the 10-year Treasury were unchanged, keeping yields at Friday’s 1.68%.
Oil prices regained 18 cents at $46.06 U.S. a barrel
Gold prices sank $8.50 at $1,326 U.S. an ounce.
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