Equity markets in Toronto eased on Monday as concerns over a rise in coronavirus infections globally led investors hold back on trades, while Brookfield Business Partners jumped after it announced the takeover of a U.S. based car parts maker.
The TSX Composite index lost 19.34 points to begin Monday and the week at 20,206.77.
The Canadian dollar dropped 0.14 cents to 80.93 cents U.S.
As for Brookfield, its stock rose 64 cents, or 1.1%, to $57.53, after it said it would acquire U.S. car parts maker DexKo Global from private equity firm KPS Capital Partners LP for $3.4 billion.
CIBC raises target price on AGF Management to $8.50 from $8.00.
Cormark Securities raised the price target on Converge Technology Solutions to $11.50 from $11.00. AGF shares gained 12 cents, or 1.5%, to $8.05.
Scotiabank raised the target price on Ero Copper to $27.00 from $26.00. Ero shares gained 38 cents, or 1.5%, to $25.88.
Cormark Securities raises target price on Mullen Group to $16.00 from $15.50. Mullen shares gave back five cents to $13.42.
Oil prices gained 14 cents to $75.30 U.S. a barrel.
Gold prices picked up $8.80 to $1,792.10 U.S. a pound
ON BAYSTREET
The TSX Venture Exchange fell 0.28 points from Friday’s finish to 968.11
Eight of the 12 TSX subgroups were lower Monday, with energy falling 0.7%, consumer staples retreating 0.4%, and health-care paler by 0.3%.
The four gainers were led by utilities, up 0.1%, materials, nosing up 0.04%, and consumer discretionary stocks, eking up 0.03%,
ON WALLSTREET
American markets are closed for the Fourth of July holiday.
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