Toronto's main stock index inched a bit higher on Monday, even amid doubts that the euro-zone can contain its debt crisis despite new governments in Italy and Greece.
The S&P/TSX composite index moved higher by 6.76 points, soon after the opening bell to 12,283.61, after a jump of nearly 170 points on Friday.
The Canadian dollar fell 0.86 cents to 98.32 cents U.S.
Among Canadian stocks to watch this morning, aircraft giant Bombardier Inc., which is intensifying its focus on emerging markets for its crucial new C-series of jets, executives said on Sunday.
Resilience in the insurance and mutual-fund subsidiaries in a period of volatile markets pushed up the quarterly profit of Power Financial Corp. and that of its parent Power Corp.
Twin Butte Energy Ltd. said it will buy Emerge Oil & Gas Inc for about $105 million in a stock deal to increase its oil reserves and production.
Brigus Gold Corp. posted a third-quarter profit, but cut production outlook for the current quarter due to a slower-than-expected ramp up at its Black Fox underground mine.
Food and beverage maker GLG Life Tech Corp posted a third-quarter loss, hurt by weak demand for its products and higher costs.
Crystallex International Corp. said on Friday it has sold $18.7 million of equipment from a Venezuelan gold mine while seeking compensation of $3.8 billion after the country terminated its permit to develop the property early this year.
Lithium producer Talison Lithium Ltd. posted a lower first-quarter profit, hurt by foreign-exchange losses.
ON BAYSTREET
The TSX Venture Exchange stepped back 0.38 points to 1,640.93, while the Nasdaq Canada index lost 1.68 points to 410.87
Nine of the 14 Toronto subgroups were higher to begin the day and the week. Metals and mining stocks led the charge, up 0.7%, health-care stocks gained 0.5% and financials prospered 0.4%.
The five laggards were weighed by gold and telecoms, down 0.3% each, and global base metals, off 0.2%.
ON WALLSTREET
In New York, stocks edged lower Monday, as Greece and Italy swap out leaders, and investors remain cautious about how much these transitions will help resolve Europe's debt crisis.
The Dow Jones Industrials dipped 25.65 points to 12,128.03.
The S&P 500 slid 6.54 points to 1,257.31, while the Nasdaq Composite Index faded 5.18 points to 2,673.59.
Financial stocks were under pressure, with JPMorgan Chase leading the Dow's decline. Shares of Bank of America, Morgan Stanley, Goldman Sachs and Citigroup were also down between 1.5 and 3%.
Boeing said Monday it won the largest commercial airplane order in the company's history: an $18-billion U.S. order from Dubai-based Emirates Airline for 50 Boeing 777-300ERs. Shares of the aircraft manufacturer rose.
Warren Buffett told CNBC early Monday that his company, Berkshire Hathaway, is boosting its stake in IBM. Shares of IBM edged higher.
Shares of Lowe's fell after the home improvement giant reported a 44% drop in third-quarter profit Monday. Shares of J.C. Penney also slipped after the retailer's profits met estimates, but guidance was below forecasts.
Over the weekend, embattled Italian Prime Minister Silvio Berlusconi stepped down, after the government passed a package of austerity measures. Former European Union commissioner Mario Monti was nominated to lead Italy.
While Monti will be at the helm in Italy, Berlusconi's party is still largest political force in parliament, and it could attempt "to stall the necessary reform agenda" in order to advance its own political agenda, one observer.
Investors will be watching Italian bond yields closely Monday, after a €3 billion of five-year bonds generated decent demand.
Yields on both the five-year and 10-year bonds still remain around 6.7%. Last week, the 10-year Italian yield spiked to a record high above 7% -- a level that eventually led to bailouts for Greece, Portugal and Ireland.
Greece swore in a new prime minister, Lucas Papademos, last Friday. Papademos, a former banker and European Central Bank vice president, will now move to form a new national unity government.
The price on the 10-year Treasury edged lower, driving the yield up to 2.08% from the 2.06% figure Thursday. Bond markets were closed Friday for Veterans Day. Treasury prices and yields move in opposite directions.
Oil for October delivery advanced $1.19 to $98.97 U.S. a barrel
Gold futures for December delivery fell $10.60 to $1,777.50 U.S. an ounce.
