Stocks in Canada’s largest market fell at the open on Monday as a decline in oil prices weighed on the energy sector.
The S&P/TSX Composite Index lost 47.89 points to open the day and the week at 15,008.10
The Canadian dollar inched up 0.07 cents to 80.26 cents U.S.
U.S. President Donald Trump renewed his threat to scrap NAFTA and ripped on trading partners Canada and Mexico in a tweet early on Sunday, days before the three countries were scheduled to hold a second round of negotiations on rewriting the 23-year-old agreement.
The new chief executive of German department store chain Kaufhof, owned by Canada's Hudson's Bay Co, denied reports that the group was in a dispute with a lender consortium, in an interview by German weekly Welt am Sonntag.
Bay shares sprinted 65 cents, or 5.7%, to $12.10.
In the tech field, BlackBerry dipped 16 cents, or 1.4%, to $11.04.
Energy stocks lost some steam, as Suncor Energy fell 23 cents to $38.95.
Gold stocks were positive in the first hour, though, as Goldcorp took on five cents to $16.35.
BMO started coverage on Northern Dynasty Minerals with a market perform rating, and a $2.50 target price. Northern Dynasty shares shied away two cents to $2.19.
ON BAYSTREET
The TSX Venture Exchange moved higher 4.12 points to 773.59.
Eight of the 12 TSX subgroups were down, weighed most by consumer discretionary, down 0.8%, information technology, off 0.6%, and energy, slowing 0.5%.
The four gainers most by gold, up 0.8%, materials, ahead 0.6%, and real-estate, creeping ahead 0.04%
ON WALLSTREET
Shares of oil refinery companies rose on Monday after Harvey, a Category 4 hurricane, forced refiners in Houston to shut down.
The Dow Jones Industrials dropped 14.91 points to 21,798.76, with Travelers contributing the most to the losses. The 30-stock index traded higher earlier in the session.
The S&P 500 eked up 1.3 points to 2,444.41, with health-care leading six sectors higher.
The NASDAQ gained 14.24 points to 6,279.19
Entering Monday's session, the Dow, S&P and NASDAQ were all down for the month as investors grapple with lingering worries about the Trump administration's ability to move forward with tax reform.
Shares of Valero Energy, Phillips 66 and Marathon Petroleum all rose at least 1% in early trade.
Prices for the benchmark 10-year Treasury note were unchanged, keeping yields at Friday’s 2.17%.
Oil prices slumped 70 cents to $47.17 U.S. a barrel
Gold prices gained $5.40 to $1,303.30 U.S. an ounce.
