Equity markets in Canada’s biggest centre shortly after the open on Monday, in a broad rout that tracked global equities, which fell on the heels of a more than 8% plunge in Chinese stocks.
The S&P/TSX composite index faded 119.07 points to begin the day and week at 14,067.17
The Canadian dollar gained 0.16 cents to 76.82 cents U.S.
Restaurant Brands International Inc. reported a net profit attributable to shareholders of $9.6 million, or five cents per share, for the three months, compared with a loss of $8.1 million, or four cents per share, in the first quarter. Revenue rose nearly 12% to $1.04 billion.
The company formed out of Burger King's takeover of Tim Hortons hiked in price $2.78 a share, or 5.3%, to $54.98.
Canaccord Genuity cut the price target on AutoCanada Inc. to $3.00 from $42.00 ahead of its second-quarter reports Thursday, expects the company to report EPS below consensus.
AutoCanada stocks took a header of $2.07, or 6.3%, to $30.49.
National Bank Financial raised the rating on First National Financial Corp. to outperform from sector perform, believes the company is best positioned to shake off bearish sentiment towards the industry.
First National dipped 23 cents, or 1.3%, to $17.69.
Capital Power Corporation expects to report Q2 earnings of 20 cents per share today. Capital stock gained 39 cents, or 1.8%, to $22.06.
PrairieSky Royalty also reports, projecting Q2 earnings of 17 cents per share. PrairieSky shares faded 57 cents, or 2.1%, to $26.89.
ON BAYSTREET
The TSX Venture Exchange was in reverse 2.92 points to 589.56.
All but one of the 14 TSX subgroups were lower in the first hour of trading, as metals and mining plummeted 2.6%, while global base metals and energy stocks each capsized 1.6%.
Only gold held out against the negative tide, nosing up 0.1%.
ON WALLSTREET
U.S. stocks traded lower on Monday as the continued selloff in commodities and an overnight plunge in Shanghai stocks pressured sentiment amid a lackluster earnings season.
The Dow Jones industrial average surrendered 156.4 points to open the week at 17,412.13, with American Express leading declines and McDonald's and Intel the only advancers.
The S&P 500 dropped 11.33 points to 2,068.32, with energy leading eight sectors lower and utilities and telecoms the only advancers.
The NASDAQ index faltered 30.98 points to 5,057.65
Such companies as Canon, Norfolk Southern, Baidu and Eastman Chemical report earnings today.
Economically speaking, June durable goods data showed an increase of 3.4%, beating expectations slightly.
Mainland Chinese stocks extended Friday's losses, with the Shanghai Composite dropping nearly 8.5% for its largest one-day loss since 2007. The Hang Seng closed about 3% lower.
Prices for 10-year U.S. Treasuries gained, lowering yields to 2.23% from Friday’s 2.26%. Treasury prices and yields move in opposite directions.
Oil prices gave back 65 cents a barrel to $47.49 U.S.
Gold prices hiked $9.30 to $1,094.80 U.S. an ounce.
