Equities in Canada’s financial capital remained slightly negative on Monday as lower oil and metal prices weighed on energy and mining stocks, while Alimentation Couche-Tard jumped after the convenience store operator bought a U.S. chain in an expansion move.
The S&P/TSX Composite had fought to within 2.56 points to greet noon at 14,684.90.
The Canadian dollar erased 0.52 cents to 77.21 cents U.S.
Barrick Gold fell 1.4% to $26.10 and Goldcorp shed 1.9% to $23.12, while diversified miner Teck Resources lost 1.7% to $19.97.
Couche-Tard jumped rose 6.8% to $66.35 after the convenience store operator said it would buy U.S. chain CST Brands Inc in a roughly $4.4-billion deal.
Couche-Tard also said it would sell some Canadian CST assets to Parkland Fuel, whose shares rose 12.1% to $28.30.
Valeant Pharmaceuticals International advanced 6.1% to $39.21 after naming a new chief financial officer.
On the economic scene, Statistics Canada reported that wholesale sales increased for a third consecutive month in June, up 0.7% to $56.4 billion. Four of the seven sub-sectors, representing 68% of wholesale sales, recorded gains.
ON BAYSTREET
The TSX Venture Exchange slumped 12.93 points to 820.18
Seven of the 12 subgroups were higher midday, as consumer staples gained 2.2%, health-care piled on 2.1%, and real-estate improved 0.3%.
The five laggards were weighed most by gold, down 1.4%, energy, sliding 0.9%, and materials, off 0.8%.
ON WALLSTREET
U.S. stocks fell in choppy trade on Monday as investors looked ahead to a key speech from the top Federal Reserve official and digested falling oil prices
The Dow Jones Industrials faded 6.13 points at 18,546.44, with Apple leading decliners and Boeing the top advancer.
The S&P 500 inched higher 0.14 points to 2,184.01, with energy leading eight sectors lower and utilities and health care as the only risers.
The NASDAQ Composite picked up 3.29 points to 5,241.67, with Apple subsiding about 1%.
Dow-component Pfizer agreed to buy U.S. drug company Medivation for $81.50 a share, or about $14 billion U.S. Shares of Medivation rose nearly 20%, while Pfizer's stock slipped to trade 0.3%.
Prices for the 10-year Treasury strengthened, lowering yields to 1.54% from Friday’s 1.58%. Treasury prices and yields move in opposite directions.
Oil prices dropped $1.47 a barrel to $47.05 U.S.
Gold prices slid $2.70 to $1,343.50 U.S. an ounce.
