Equities in Canada’s largest market fell on Monday as industrials and financials lost ground, offsetting gains for the materials group as commodity prices rose.
The S&P/TSX Composite docked 24.59 points to open at 15,050.85
The Canadian dollar bolted higher 0.48 cents at 74.44 cents U.S.
CIBC started coverage on Alaris Royalty with an outperform rating, saying the management can refocus on working its extensive business network to make new investments, supplemented by organic growth and follow-on investments in its current portfolio.
Alaris dipped 17 cents to $20.87.
National Bank Financial cut the rating on WSP Global to sector perform from outperform, factoring the company’s compressed street EBITDA forecasts and subsided beats.
WSP shares retreated 75 cents, or 1.6%, to $47.04.
Pivot Technology Solutions reports third-quarter earnings today, projecting three cents per share. Pivot shares inched up half a cent, or 1.2%, to 42.5 cents.
ON BAYSTREET
The TSX Venture Exchange gained 2.1 points to 736.68
Six of the 12 TSX subgroups were lower, with industrials off 0.6%, while consumer discretionary and energy stocks each wilted 0.4%.
The five gainers were led by health-care stocks, growing 0.7%, real-estate, up 0.6%, and gold, shining 0.5% brighter. Utilities were unchanged in the first hour of trading.
ON WALLSTREET
U.S. equities kicked off the week trading slightly lower on Monday, as a massive post-election rally took a breather, while investors kept an eye on oil prices ahead of a key meeting of the Organization of the Petroleum Exporting Countries
The Dow Jones Industrials stepped back 46.09 points from record highs to open Monday at 19,106.05, with Nike leading decliners and Verizon the top advancer.
The S&P 500 dipped 5.03 points to 2,208.35, with financials leading seven sectors lower and utilities the biggest riser.
The NASDAQ composite index subtracted 13.2 points to 5,385.72
In corporate news, Boeing is expected to be the target of new World Trade Organization sanctions, according to The Wall Street Journal.
Meanwhile, Merck won priority review status from the Food and Drug Administration in its application for a new use for its cancer drug Keytruda.
Investors also kept an eye on retail stocks following Black Friday last week.
Oil futures slipped 2% after Dow Jones reported the Iraqi oil minister said Iraq will cooperate with other OPEC members to reach a deal.
In economic news, the Dallas Federal Reserve survey is due at 10:30 a.m. ET, with no other major data scheduled for release.
Treasury prices for the 10-year note gained ground, dropping yields to 2.34% from Wednesday’s 2.36%. Treasury prices and yields move in opposite directions. Bond markets in the U.S. were closed Thursday and Friday for Thanksgiving
Oil prices surged 97 cents to $47.03 U.S. a barrel
Gold prices hiked $8.20 to $1,186.60 U.S. an ounce.
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