Canada's stock index fell on Monday as prices of precious and base metals fell, and oil also faltered after China tightened COVID curbs
The TSX Composite retreated 131.19 points to open Monday and the week at 19,849.72.
The Canadian dollar fell 0.42 cents to 74.32 cents U.S.
Manulife Financial has become the first foreign financial firm to receive regulatory approval in China to take full control of a funds joint venture. Manulife shares gave up 35 cents, or 1.5%, to $23.22.
AltaGas said President and CEO Randy Crawford will step down from his roles in the first half of 2023. AltaGas shares ditched six cents to $42.11.
ON BAYSTREET
The TSX Venture Exchange stepped back 2.09 points to 573.79.
Seven of the 12 TSX subgroups gained ground, led by consumer discretionary, up 0.7%, communication, up 0.6%, and utilities, 0.3% to the good.
The five laggards were weighed most by energy, plunging 4%, materials, worse off by 0.8%, and information technology, sinking 0.3%.
ON WALLSTREET
Stocks fell Monday during the start of a short week for the Thanksgiving holiday as traders looked ahead to speeches from the Federal Reserve and earnings reports.
The Dow Jones Industrials dipped 4.89 points to 33,740.80, boosted a bit by shares of Disney, which popped 8.7% after announcing that Bob Iger will replace Bob Chapek as CEO.
The S&P 500 dipped 12.38 points to 3,952.66
The NASDAQ lurched lower 70.22 points to 11,075.84.
This week, a short one due to the Thanksgiving holiday, investors will be busy with another group of retail earnings. Best Buy, Nordstrom, Dick’s Sporting Goods and Dollar Tree are among the companies on deck.
Prices for the 10-year Treasury inched up, lowering yields to 3.80% from Friday’s 3.81%. Treasury prices and yields move in opposite directions.
Oil prices flopped $4.15 to $75.93 U.S. a barrel.
Gold prices sank $13.30 to $1,741.10 U.S. an ounce.
Stocks Wonky to Begin Thanksgiving Week
