Markets in Canada’s biggest market declined as gold prices weighed on mining shares, while defensive sectors also declined, offsetting gains for financials as bond yields surged.
The S&P/TSX Composite recovered 43.1 points to conclude Monday at 14,598.51, after a drop of nearly 200 points Friday.
The Canadian dollar dropped 0.06 cents, to 73.79 cents U.S.
The most influential movers on the index included gold companies. Iamgold marched ahead 19 cents, or 3.9%, to $5.06, while Goldcorp acquired 31 cents, or 1.7%, to $18.11.
Among energy issues – another big winner – Baytex Energy gained 11 cents, or 2.2%, to $5.19, while Suncor Energy gained 25 cents to $39.78.
Financials picked up the pace, driven by Toronto-Dominion Bank, which rose $1.26, or 2% to $62.92, while Manulife Financial Corp gained 73 cents, or 3.3% to $23.16
Amaya Inc's former chief executive, David Baazov, has offered to buy the Canadian online gambling company in a deal valued at about $3.48 billion.
Its shares jumped $2.64, or 14.4%, to $20.98.
The rest of the tech sector was trashed, as Constellation Software slid $21.02, or 3.3%, to $617.75.
Among utilities, Hydro One shares ditched 15 cents to $22.65, while Fortis Inc. fell 68 cents, or 1.7%, to $39.84.
The consumer staples group fell 1.2%, with Alimentation Couche Tard Inc down 85 cents, or 1.3% at $62.53.
ON BAYSTREET
The TSX Venture Exchange poked up 1.73 points to 729.64
The 12 TSX subgroups were evenly split between gainers and losers, as energy and gold each climbed 1.2%, with financials prospering 0.7%
The half-dozen laggards were weighed most by information technology, down 1.6%, utilities, losing 1.3%, and consumer staples, backtracking 0.8%.
ON WALLSTREET
U.S. stocks closed mixed on Monday, after the Dow Jones industrial average hit a new all-time high, as investors evaluated the prospects of economic growth following Donald Trump's presidential election win.
The Dow Jones Industrials added 21.03 points to Friday’s all-time high, rising to 18,868.69, completing a six-day winning streak, with Visa leading decliners and UnitedHealth Group the top advancer.
The S&P 500 dipped 0.25 points at 2,164.20, with a 1.7% fall in information technology offsetting a 2% gain in financials.
The NASDAQ composite index shed 18.72 points to 5,218.40, as Apple and the so-called FANG stocks (Facebook, Amazon, Netflix and Google's parent firm Alphabet) all fell.
In an interview with CBS' "60 Minutes," Trump urged his supporters to stop harassing minority groups "because I'm going to bring this country together." In the same interview, however, Trump said he would deport millions of illegal immigrants.
Following Trump's victory over Democrat Hillary Clinton, investors and traders quickly honed into Trump's economic policies, which could lead to higher infrastructure spending and less regulation within financials.
Treasury prices for the 10-year note plummeted, raising yields to 2.24% from Thursday’s 2.14%. Treasury prices and yields move in opposite directions. Bond markets were closed Friday for Veterans Day.
Oil prices regained 29 cents to $43.70 U.S. a barrel
Gold prices fell $7.10 to $1,217.20 U.S. an ounce.
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