North American stock markets opened very modestly in negative territory, as traders are shying away from taking on new positions this close to the U.S. elections.
The S&P/TSX composite fell 13.60 points to approach noon at 12,366.81
The Canadian dollar shed 0.09 cents to 100.33 cents U.S.
Canadian Oil Sands Ltd., the largest-interest owner of the Syncrude Project, said that Syncrude's oil sands operations produced an average of 320,500 barrels-per-day in October, up from 318,900 bpd in September. Shares in Oil Sands dipped 11 cents to $21.08
Elsewhere, Husky Energy Inc. reported that an equipment malfunction in a diesel hydrotreater unit caused flaring at its 155,000 barrel-per-day refinery in Lima, Ohio, according to a filing with the U.S. National Response Center. Husky shares gained 17 cents to $27.62
Canada said it has extended its review of a $15.1-billion bid by China's CNOOC for energy producer Nexen Inc. by a month to Dec. 10. Nexen shares lopped off nine cents to $24.48
TransCanada Corp. said its Mexican unit was awarded a $400-million contract from Mexico's federal power company to build the El Oro to Mazatlan pipeline. Shares lost a penny to $45.19
On the economic slate, Statistics Canada reported this morning that the value of building permits fell 13.2% to $6.5 billion in September, following a 9.5% advance in August.
The nation’s number crunchers said the decline was mainly the result of the non-residential sector, where the value of permits in all three components fell.
ON BAYSTREET
The TSX Venture Exchange slid 4.59 points to 1,307.05.
Of the 14 Toronto subgroups, seven gained ground – with an equal number falling – by noon. Metals and mining grew 1.1%, information technology picked up 1%, and gold increased 0.5%.
The seven laggards were weighed by health-care, off 1%, real-estate, down 0.6% and energy, sliding 0.3%.
ON WALLSTREET
U.S. stocks drifted lower Monday morning, as investors turned cautious ahead of an uncertain U.S. presidential election.
The Dow Jones Industrials dipped 9.38 points to break for lunch at 13,083.80, while the S&P 500 moved lower 1.29 to 1,412.91, and the Nasdaq Composite Index was up 5.43 points at 2,987.56
The latest surveys indicate a dead heat in the race for the White House, with 49% of likely voters questioned in support of President Obama and an equal amount saying they back former Massachusetts Governor Mitt Romney.
In corporate news, Humana posted earnings that beat analysts' expectations and also boosted its forecast for the year.
Shares of Netflix were lower after the online video streaming company adopted a shareholder rights plan in response to activist investor Carl Icahn, who announced a 10% stake in the company last week.
Stifel Financial said it would buy smaller rival bank KBW in a deal valued at about $575 million U.S.
Shares of Apple edged higher after the company said it sold three-million iPodsin the three days since it launched the new iPad mini and fourth generation iPad.
Economically speaking, the U.S. Institute for Supply Management said its services index for October came in at 54.2, a little below the 54.5 forecast.
The price on the benchmark 10-year U.S. Treasury edged higher, pushing the yield down to 1.68% from 1.73% late Friday. Treasury prices and yields move in opposite directions.
Oil prices were up 17 cents at $85.03 U.S. a barrel.
Gold prices surged $7.70 per ounce to $1,682.90 U.S.
