The Toronto stock market was slightly lower Monday with energy and gold prices getting a lift in the wake of Russia's incursion into Ukraine's Crimean peninsula.
The S&P/TSX composite index approached noon down 34.68 points to 14,174.91
The Canadian dollar dipped 0.12 cents U.S. early Monday to 90.15 cents U.S.
Among the day's gainers, Suncor Energy rose 1.2% to $36.97, while Barrick Gold gained 2.3% to $23.07.
Shares of Goldcorp jumped after Osisko Mining said it agreed to settle its lawsuit against Goldcorp and would allow Goldcorp to conduct due diligence in connection with its hostile takeover bid for Osisko.
Goldcorp gained 3.3% to $30.76, while Osisko climbed 6.1% to $7.48.
Magna International rose 2.1% to $100.62 after the auto parts supplier reported a higher quarterly profit and raised its dividend.
On the economic slate, Statistics Canada reported this morning that its industrial products price index rose 1.4% in January, on the back of higher prices for energy and petroleum products. The Raw Materials Price Index increased 2.6% in the same month, as a result of higher prices for crude energy products.
ON BAYSTREET
The TSX Venture Exchange faded 7.58 points to 1,017.79.
All but four of the 14 Toronto subgroups were lower by noon, with metals and mining falling 2.2%, health-care stocks 1.2% less hale, and global base metals 1.1% to the bad.
The four gainers were pulled upwards by gold stocks, up 2.3%, materials, up 1%, and consumer discretionary stocks, gaining 0.3%.
ON WALLSTREET
U.S. stocks followed world markets lower Monday as investors worried about increased tensions between Russia and Ukraine.
The Dow Jones Industrial Average skidded 217.54 points, or 1.3%, to break for noon ET at 16,104.17
The S&P 500 index faded 19.56 points to 1,839.89. The NASDAQ subtracted 58.85 points to 4,249.27
In company news, Men's Wearhouse said Monday that it has entered into merger talks with its rival retailer Jos. A. Bank
Investors were cautious following news that Russia has moved forward with military intervention in Ukraine. Ukraine's new leaders have accused Russia of declaring war.
Prices for 10-year U.S. Treasuries gained ground, lowering yields to 2.60% from Friday’s 2.66%. Treasury prices and yields move in opposite directions.
Oil prices gained $2.07 to $104.66 U.S. a barrel.
Gold prices gained $32.20 to $1,353.80 U.S. an ounce.
