Stocks in Canada’s biggest market faded into negative country on Monday, despite gains in mining and health-care stocks.
The S&P/TSX composite index backed off from morning gains, finding itself in the red 16.31 points, to greet noon at 13,007.99
The Canadian dollar slumped 0.14 cents to 71.51 cents U.S.
The most influential movers on the index included some of its biggest banks, with Royal Bank of Canada rising 0.9% to $74.89 and Toronto-Dominion Bank advancing 0.6% to $55.05.
The overall financial group climbed, while the consumer staples, materials, and healthcare groups also gained.
Auto parts maker Magna International Inc rose 1.1% to $57.60, and convenience store chain Alimentation Couche-Tard advanced 0.9% to $62.56.
The energy group climbed, as oil prices pared losses that took Brent crude to its lowest in more than 11 years. Suncor Energy jumped 1.7% to $36.59, and Canadian Natural Resources rose 0.5% to $29.30.
Agricultural shares weighed, with Potash Corp down 1.5% at $23.86 and Agrium Inc declining 1.4% to $127.55. Several analysts have recently downgraded the stocks amid a weak pricing environment.
ON BAYSTREET
The TSX Venture Exchange inched up 0.64 points to 501.71
Seven of the 13 TSX subgroups were higher midday, with gold and the metals and mining sectors each 2.9%, while health-care up 1.5%.
The half-dozen laggards were weighed most by energy, down 0.7%, real-estate off 0.3%, and utilities sinking 0.2%.
ON WALLSTREET
U.S. stocks traded in a range Monday, attempting to recover from a sharp selloff last week, as investors eyed low oil prices in a shortened trading week.
The Dow Jones industrial average remained positive 27.29 points by noon to 17,155.84, after a loss Friday of more than 360 points.
The greatest weight on the Dow was Disney. The stock fell more than 1% in midday trade, continuing to decline after BTIG downgraded the stock Friday, despite a record opening weekend for the latest "Star Wars" movie in North America.
The S&P 500 was up 3.93 points to 2,009.48, with telecommunications leading seven sectors higher and energy the greatest decliner. Both the S&P 500 and Dow are still negative year-to-date, down more than 1.5% and 3%, respectively.
The NASDAQ index moved higher 37.86 points to 4,960.64
Prices for the 10-year Treasury gained, lowering yields to 2.19% from Friday’s 2.20%. Treasury prices and yields move in opposite directions.
Oil prices slipped 37 cents a barrel to $34.36 U.S.
Gold prices hiked $13.52 to $1,079.77 U.S. an ounce.
