Canada's main stock index slipped on Monday, led by losses in technology shares, as investors paused after November's strong rally and looked ahead to a busy week of bank earnings.
The TSX was lower 131.16 points by noon EST to 31,251.42.
The Canadian dollar dropped 0.06 cents to 71.53 cents U.S.
Major Canadian banks are set to post earnings over the next few days, setting the tone for markets. Financial companies hold nearly a third of the weight on the TSX index.
In corporate updates, four Malian employees of Barrick Mining were released from prison after an agreement that resolved all disputes over the Loulo-Gounkoto gold mining complex, three sources told Reuters.
Barrick shares gathered 65 cents, or 1.1%, to $59.08.
Major Canadian banks are set to post earnings over the next few days, starting with Bank of Nova Scotia on Tuesday. Financial companies make up nearly a third of the weight on the TSX index.
On the TSX, technology stocks slid with blockchain farm operator Bitfarms falling 37 cents, or 5.7%, to $4.52, after bitcoin price fell.
On the economic slate, the Markit Canada Manufacturing PMI for November fell to 48.4 in November from October’s 49.6, signaling a modest deterioration and extending the sector’s contraction for a 10th straight month.
ON BAYSTREET
The TSX Venture Exchanged shed 3.88 points, to 933.46.
The 12 TSX subgroups were evenly split, with health-care sprinting 2.1%, gold up 0.7%, while materials 0.5%.
The half-dozen laggards were weighed most by information technology, down 2.7%, while telecoms fell 0.9%, and financials, off 0.6%.
ON WALLSTREET
Stocks retreated on Monday, following crypto prices lower, as volatility continued into December’s trading month.
The Dow Jones Industrials reached noon lower by 202.73 points to 47,513.69.
The S&P 500 Index ditched 13.96 points to 6,835.13.
The NASDAQ stumbled 44.18 points to 23,321.50.
Wall Street came back from the Thanksgiving holiday for a shortened trading session Friday.
Broadcom and Super Micro Computer each lost more than 2%, indicating more profit-taking in the artificial intelligence trade.
However, Synopsys shares popped after Nvidia announced an investment in the company. Nvidia shares rose more than 1%.
Bitcoin, the flagship cryptocurrency, dropped more than 7% to trade below $87,000. The digital currency late last month fell below $90,000 for the first time since April and has since struggled to stay above that mark.
Wall Street is coming off a strong week. The Dow and S&P 500 jumped more than 3%, while the NASDAQ rallied close to 5%.
But the market turned turbulent and was anything but smooth sailing in November. The S&P 500 and Dow closed modestly above flat for the month, while the NASDAQ shed 1.5% to snap a seven-month advance. At one point in November, the tech-heavy NASDAQ was down nearly 8% from the October close amid concerns around AI stock valuations.
The 10-year Treasury slumped, raising yields to 4.09% from 4.02% on Friday. Treasury prices and yields move in opposite directions.
Oil prices climbed 65 cents to $59.20
Gold prices gained $4.20 to $4,259.10.
Stocks Fall to Commence December
