Canada's main stock index fell in early trade on Monday, as broad-based losses outweighed solid gains for energy stocks.
The S&P/TSX composite index eased 31.78 points to begin Monday at 13,521.52
The Canadian dollar hiked 0.21 cents at 75.38 cents U.S.
Bombardier said on Sunday it is on track to certify its new CS100 regional jet, which is making its Middle Eastern debut at the Dubai Airshow this week, before its planned entry into service next year.
Bombardier shares gained a penny to $1.53.
Canadian Natural Resources said it will sell a part of its royalty assets to PrairieSky Royalty Ltd in a cash-and-stock deal worth $1.8 billion, as the oil producer sheds assets to weather a slump in crude prices. PrairieSky will pay $680 million in cash and about 44.4 million in stock valued at $25.20 per share
Natural Resources shares demurred 25 cents to $33.41.
TransCanada Corp will keep pressing to build the Keystone XL oil pipeline from Canada to the United States despite the Obama administration's rejection, but skeptical investors suggested it focus on a controversial all-Canadian alternative.
TransCanada is also developing the Energy East pipeline, designed to move 1.1 million barrels per day of western crude to Canada's East Coast, although it too faces opposition from environmentalists trying to halt industry expansion.
TransCanada shares added 13 cents to $43.45.
Goldman Sachs sold 1.3 million shares of Valeant Pharmaceuticals on Thursday, a day when the drug company's shares fell as much as 20%, because they were securing loans made to Valeant CEO Michael Pearson that needed to be paid.
Valeant gained 47 cents to $109.66.
CIBC raised the price target on Enerplus Corp to $10.25 from $9.50 after the company reported third quarter results ahead of expectations.
Enerplus shares nicked up a penny to $7.20.
On the economic front, Canada Mortgage and Housing Corporation said housing starts totaled 206,089 units in October compared to 202,793 in September.
ON BAYSTREET
The TSX Venture Exchange picked up 2.21 points to 536.29
All but four of the 13 TSX subgroups were lower, with real-estate weaker by 1%, the metals and mining sector down 0.9%, and consumer staples off 0.8%.
The four gainers were led by health-care, sprouting 0.4%, utilities, better by 0.3%, and energy, up 0.1%.
ON WALLSTREET
U.S. equities traded lower Monday as investors weighed a possible Federal Reserve rate hike in December.
The Dow Jones industrial average plunged 165.25 points to begin Monday trade at 17,745.08, led lower by IBM and DuPont leading advancers.
The S&P 500 fell 16.29 points to 2,082.91, with consumer discretionary leading all sectors lower.
The NASDAQ index stumbled 33.2 points to 5,113.92
The odds of the Fed raising rates for the first time in about a decade rose dramatically after the October non-farm payrolls report — released Friday — showed the U.S. economy added 271,000 jobs.
According to the CME Group, the probability of a December rate hike rose from about 58% to about 70%.
In corporate news, Plum Creek Timber, Dish Network and Hertz Global reported earnings before the bell. SunEdison, Lions Gate and Rackspace are all due after the bell.
Prices for 10-year U.S. Treasuries fell, raising yields to 2.36% from Friday’s 2.33%. Treasury prices and yields move in opposite directions.
Oil prices inched up 11 cents a barrel to $44.40 U.S.
Gold prices slid 51 cents to $1,089.29 U.S. an ounce.
