Equity markets were fairly flat on Monday on anxiety spurred by the victory of the leftist Syriza party in the Greek election and by Syriza's demands for a restructuring of the country's international debt.
The S&P/TSX composite index recovered from an early nosedive to gain 7.16 points, and reach midday at 14,786.51
The Canadian dollar forged higher 0.19 cents to 80.56 cents U.S.,
Financials slid as Bank of Nova Scotia lost 0.8% to $63.34, and Bank of Montreal was down 0.9% at $77.67.
The gold-mining sector fell, as Goldcorp shed 2.6% to $28.94, and Barrick Gold Corp declined 0.8% to $15.31.
Industrials lent strength to the index, as Badger Daylighting vaulted nearly 4% to $22.89, and Black Diamond Group gained 3% to $10.39.
Telecoms suffered the worst losses of the morning, with Rogers Communications skidding 3.2% to $45.50.
Greek leftist leader Alexis Tsipras was sworn in on Monday as the prime minister of a new anti-bailout government and promised that the austerity imposed by international creditors for the past five years is over.
ON BAYSTREET
The TSX Venture Exchange shed 5.76 points to 672.42
Nine of the 14 Toronto subgroups were lower by noon, however, as telecoms tumbled 1.5%, gold suffered a loss of 1.1%, and materials backtracked 0.7%.
The five gainers were led by industrials, up 0.9%, global base metals, better by 0.7%, and health-care, 0.5% to the good.
ON WALLSTREET
U.S. stocks wavered on Monday as investors considered results from Greek elections and winter weather on the East Coast.
The Dow Jones Industrials eased 8.05 points to 17,664.55, with Chevron pacing blue-chip gains.
The S&P 500 recovered two points to 2,053.82, with telecom and technology leading declines and energy and materials faring best of its 10 major industry groups.
The NASDAQ index recouped 6.24 points to 4,764.12.
DR Horton rose after the home builder reported quarterly profit that topped estimates.
Mattel declined after the toy maker ousted its chairman and chief executive and warned sales fell 6% in the holiday quarter.
In Greece, the anti-austerity Syriza party won 149 out of a 300 possible seats in Parliament.
Prices for 10-year U.S. Treasuries were slightly lower, lifting yields back to Friday’s 1.82%. Treasury prices and yields move in opposite directions.
Oil prices recouped 36 cents per barrel to $45.95 U.S.
Gold prices faltered $14.20 an ounce to $1,278.40 U.S.
