Stocks in Canada’s largest market were slightly higher in early trading Monday, as energy shares pulled back with oil, and investors fretted about the possibility of Britain voting to leave the European Union.
The S&P/TSX Composite poked up 4.66 points to 14,052.20
The Canadian dollar fell 0.11 cents to 78.16 cents U.S.
A federal cabinet minister says Canada is willing to "find a solution" with Bombardier Inc as the parties consider the company's dual-class share structure during talks on a $1-billion government fund-infusion.
Bombardier shares were unchanged at $1.98.
RBC cut the price target on Hudson's Bay Co. to $23.00 from $27.00.
Bay shares sank seven cents to $14.89.
Canaccord Genuity started coverage on PrairieSky Royalty with a buy rating, and a $31.00 price target.
PrairieSky shares dipped 31 cents, or 1.3%, to $24.16.
ON BAYSTREET
The TSX Venture Exchange regained 5.12 points to 720.71
Eight of the 13 TSX subgroups were lower in the first hour of trading, with telecoms down 0.7%, utilities off 0.6%, and consumer staples faded 0.5%.
The five gainers were led by gold, shining brighter 2.6%, while metals and mining rocketed 2.5% higher, and materials were better by 2.4%.
ON WALLSTREET
U.S. stocks traded slightly lower Monday, following sharp declines in overseas markets, as growth concerns weighed.
The Dow Jones Industrials slumped 29.75 points to 17,835.59, with Microsoft leading decliners and McDonald's the top advancer.
The S&P 500 lost 3.62 points at 2,092.45. Financials traded slightly higher as one of the top S&P 500 advancers in morning trade.
Tech was one of the greatest laggards.
The NASDAQ retreated 13.97 points to 4,880.58
Shares of Microsoft briefly fell more than 4.5% in morning trade after news released just before the market open that the tech giant is purchasing LinkedIn for $196 U.S. per share in an all-cash transaction valued at $26.2 billion U.S. that is expected to close this calendar year.
Shares of LinkedIn jumped more than 45% in morning trade.
In other deal news, technology security firm Symantec, which makes the Norton AntiVirus, said it would buy privately held cybersecurity company Blue Coat for $4.65 billion U.S.
Prices for the 10-year Treasury gained slightly, lowering yields to 1.63% from Friday’s 1.64%. Treasury prices and yields move in opposite directions.
Oil prices lowered $1.54 a barrel to $49.02 U.S.
Gold prices gained $7.60 to $1,283.50 U.S. an ounce.
