Stocks in Toronto traded lower Monday at noon led by weakness in enegy stocks as the price of oil retreated while gold issues moved higher.
The TSX Composite index shed 17.58 points to trade at 20,240.37.
Investors are looking ahead to the Canadian central bank’s policy meeting on Wednesday, when it is expected to ease its asset purchases again by C$1 billion to C$2 billion per week.
Vermilion Energy shares dipped 1.48% and Enerplus Corp stock was down 1.81%.
Oil futures traded sharply lower on Monday, with the U.S. benchmark down 1.7% at $73.35 a barrel.
The Canadian dollar slipped 0.08 cents to 80.24 cents U.S.
ON BAYSTREET
The TSX Venture Exchange inched up 0.35 points to 938.82.
Eight of the 12 TSX subgroups gained ground during the afternoon session, with material stocks higher by 0.48%, while gold issues edged 0.43% higher and financials rose 0.35%.
On the downside -- industrial issues shed 0.96%, energy stocks dipped 0.82% and tech issues gave back 0.81%.
ON WALLSTREET
Stocks in the U.S were higher Monday afternoon as Wall Street prepared for what is expected to be a busy earnings season, particularly for big U.S. banks as investors look for signs of an improving economy.
The Dow Jones Industrial Average was 108 points, or 0.3%, higher at 34,976.
S&P 500 index was trading 7 points, or 0.2%, higher at about 4,377, touching an intraday high at 4,777.41.
Nasdaq Composite Index traded 17 points, or 0.1%, lower at 14,684, after establishing an intraday all-time high at 14,761.08.
In corporate news, shares of Moderna Inc. were up about 3% Monday after the company said it will supply 20 million doses of its COVID-19 vaccine to Argentina.
Shares of SolarWinds Corp. were lower Monday, even after the information technology infrastructure management software company provided an upbeat second-quarter revenue outlook.
Virgin Galactic Holdings Inc. fell around 11% Monday, a day after founder Richard Branson and five crewmates successfully flew suborbital space on the company’s VSS Unity rocket-powered spaceplane.
The yield on the benchmark 10-year Treasury slipped early Monday to 1.334%.
Gold traded 1% lower at $1,793.60 an ounce.
