Canada's main stock index opened slightly lower on Thursday, dragged down by shares of energy stocks as oil prices eased and material stocks took a hit from a dip in gold prices.
The S&P/TSX Composite Index scaled back from Wednesday’s dizzy climb, losing 1.44 points to begin Thursday at 16,574.76
The Canadian dollar was unchanged at 76.59 cents U.S.
Australia's Aveo Group revealed it had received a takeover offer from Canada's Brookfield Asset Management Inc for the A$1.2-billion retirement-home operator, ending weeks of speculation.
Shares in Brookfield took on a nickel to $64.49.
Bryan Garnier cut the rating on Canopy Growth to neutral from buy. The cannabis concern saw its stock give back 16 cents to $53.36.
CIBC cut the target price on Linamar to $61.00 from $65.00. Linamar dropped in price 20 cents to $46.90.
JP Morgan cut the target price on Suncor Energy to $49.00 from $51.00. Suncor shares gain 13 cents to $41.43.
ON BAYSTREET
The TSX Venture Exchange squeaked ahead 0.48 points to 586.64
Seven of the 12 Toronto subgroups weakened in the first hour, with health-care down 0.8%, energy sliding 0.5%, and consumer staples 0.2% to the bad.
The five gainers were led by information technology, forging ahead 0.3%, while utility and financial stocks each acquired 0.2%.
Overseas, the Nikkei 225 regained 0.3% Thursday, while in Hong Kong, the Hang Seng index fell 0.2%
Oil prices dropped 43 cents to $56.91 U.S. a barrel.
Gold lost $3.32 to $1,414.77 U.S. per ounce.
ON WALLSTREET
U.S. Markets Were Shuttered for Independence Day
