Canada's main stock index listed slightly lower on Monday, as an early rise in energy shares was offset by losses in the technology sector.
The S&P/TSX Composite slid 25.08 points to open Monday at 16,510.25.
The Canadian dollar eked up 0.05 cents to 75.98 cents U.S.
Biggest loser among tech stocks were shares of Shopify, which slid $26.72, or 5.3%, to $474.98, followed by a 2.7% decline in those of BlackBerry, which lost 26 cents to $9.22.
On the other hand, the energy sector jumped 2% as oil prices rose after the new Saudi Arabian energy minister, Prince Abdulaziz bin Salman, confirmed expectations that there would be no radical change in his country's oil policy.
Top percentage gainers on the TSX were shares of energy companies Nuvista Energy, which jumped 17 cents, or 8.8%, to $2.11, and Nexgen Energy, which rose 15 cents, or 8.7%, to $1.88
Pretium Resources fell 76 cents, or 4.4%, the most on the TSX, to $16.42, followed by shares of Hudson's Bay Co, down 28 cents, or 2.8%, to $9.80.
What’s more, RBC raised the target price on SilverCrest Metals to $9.50 from $7.50. SilverCrest shares dipped 12 cents, or 1.6%, to $7.20.
Scotiabank cut the target price on Teck Resources to $36.00 from $39.00. Teck shares lost eight cents to $23.00
ON BAYSTREET
The TSX Venture Exchange gained 1.93 points to 590.44
All but three of the 12 Toronto subgroups went for a dive in the first hour, as information technology tumbled 2%, industrials slipped 1%, and communications lost 0.5%.
The three gainers were energy, growing 2.1%, health-care, ahead 0.4%, and financials, collecting 0.2%.
ON WALLSTREET
Stocks traded higher on Monday, approaching record levels, amid increasing optimism around U.S.-China trade relations.
The Dow Jones Industrial Average gained 73.79 points to 26,871.25
The S&P 500 gained 4.8 points to 2,983.36
The NASDAQ Composite dropped 3.16 points to 8,099.91
The S&P 500 was about 1.6% from its record high set in late July entering the session. The Dow and NASDAQ entered the session more than 2% from their all-time highs.
Bank shares contributed to Monday’s gains. J.P. Morgan Chase climbed 1.3%. Citigroup advanced 1.4% while Bank of America gained 1.3%.
AT&T shares rose 3.8% after Elliott Management revealed a $3.2-billion stake in the telecom giant. In a letter to shareholders, Elliott said AT&T can “improve its business and realize a historic increase in value.”
China offered last week to increase purchases of U.S. agricultural products if the U.S. eased restrictions on telecom giant Huawei, Politico reported on Friday. China’s offer could also be contingent on the U.S. delaying higher tariffs on about $250 billion worth of Chinese imports
Prices for the benchmark 10-year U.S. Treasury sank sharply, lifting yields to 1.63% from Friday’s 1.56%. Treasury prices and yields move in opposite directions
Oil prices heightened 95 cents to $57.47 U.S. a barrel.
Gold prices acquired $1.10 to $1,513.40 U.S. an ounce.
