Canada's main stock index edged ?lower on Monday, pressured by losses in Barrick Mining after it missed quarterly profit estimates, while investors assessed developments in the Middle East and awaited key U.S. economic data due later in the week.
The TSX revived 68.19 points to break for lunch Monday at 36,449.42.
The Canadian dollar gained 0.09 cents at 71.77 cents U.S.
Tehran said it was close to reaching a final agreement with Oman on new shipping lanes through the Strait of Hormuz, but reiterated that several U.S. conditions must be met before the strategic waterway is reopened.
In earnings, Barrick missed second-quarter profit estimates. The miner's shares darted lower $3.94, or 6.5%, to $57.01.
Quarterly results from companies including Cargojet and Silvercorp Metals are due after the bell. Cargojet shares dipped 74 cents to $86.07, while those for Silvercorp grabbed 60 cents, or 3.8%, to $16.64.
Elsewhere, Western Copper and Gold appointed Mark E. Smith as chairman. Shares of the miner were up 85 cents, or 2.5%, to $3.44.
Canada is reportedly discussing trade concessions with the U.S. to avoid new tariffs.
ON BAYSTREET
The TSX Venture Exchange chugged ahead 15.14 points, or 1.6%, to 970.04.
Eight of the 12 TSX subgroups were in the red, weighed most by telecoms, sinking 1.8%, while utilities and real-estate were each burdened 1.4%.
The four gainers were led by energy, surging 3.3%, information technology, up 1.3%, and financials, poking ahead 0.3%.
ON WALLSTREET
The S&P 500 was relatively unchanged on Monday amid growing doubts that the U.S. and Iran will come to a lasting resolution to the conflict in the near term.
The Dow Jones Industrials dipped 4.24 points, to reach noon EDT Monday at 54,043.69.
The much-broader index slipped 0.13 points to 7,757.51.
The NASDAQ Composite dumped 92.34 points to 26,598.28.
Intel was a key laggard of the session, falling 4% after the company said it’s going to be offering $15 billion in common stock.
Iranian Foreign Minister Abbas Araghchi said Sunday there was “no possibility of restarting negotiations” as long as the U.S. continues violating the June memorandum of understanding, without compensating for its “violations,” according to Tasnim News Agency, a semi-official news outlet associated with the Islamic Revolutionary Guard Corps.
Prices for the 10-year Treasury faltered, raising yields to 4.69% from Friday’s 4.64%. Treasury prices and yields move in opposite directions.
Oil prices hiked $3.11 to $81.29 U.S. a barrel.
Gold prices fell off $7.80 to $4,407.50 U.S. an ounce.
Stocks Flat Amid Hope of Hormuz Deal
