Equity markets in Canada’s biggest centre stayed pretty much static by the close Monday after rallying for six days, dragged by health-care issues, while investors stayed cautious on renewed uncertainty over a trade deal between Washington and Beijing.
The TSX Composite Index struggled to a gain of 5.41 points to close the week’s first session at 16,882.83
The Canadian dollar was unchanged at 75.60 cents U.S.
In the health-care field, Hexo Corp. tumbled 27 cents, or 8.8%, to $2.81, while Cronos Group faded 56 cents, or 5%, to $10.69.
Among consumer staples, Premium Brands Holding Corp. drew back $5.17, or 6%, to $81.74, while Maple Leaf Foods ditched 40 cents, or 1.7%, to $22.73.
Energy stocks faltered as well, with EnCana sputtering 31 cents, or 4.8%, to $6.09, while Gran Tierra Energy dished off four cents, or 2.9%, to $1.34.
Tech stocks led the gainers, as Celestica vaulted 29 cents, or 2.8%, to $10.63, while Open Text Corp. added $1.30, or 2.4%, to $56.27.
Communications was another winner, as Quebecor acquired a dollar, or 3.2%, to $32.74, while Cogeco Communications soared $1.61, or 1.5%, to $111.83.
Among golds, OceanaGold gained seven cents, or 2.4%, to $3.04, while Kirkland Lake Gold picked up 59 cents, or 1%, to $60.39.
ON BAYSTREET
The TSX Venture Exchange forfeited 2.37 points at 534.60
Seven of the 12 Toronto subgroups were negative by the close, as health-care hurtled lower 2.1%, consumer staples chucked 0.4%, and energy unloaded 0.3%.
The five gainers were led by information technology, up 1%, communications, better by 0.8%, and gold, ahead 0.2%.
ON WALLSTREET
The Dow Jones Industrial Average closed slightly higher on Monday, erasing a deficit of 163 points, as Boeing shares popped on news its will resume deliveries of beleaguered 737 Max jet next month.
The 30-stock index made its way higher 10.25 points to yet another record close of 27,691.49. Boeing shares were up more than 4.5% on the news.
The S&P 500 dipped 6.07 points to 3,087.01, snapping a three-day winning streak, led lower by the utilities and energy sectors.
The NASDAQ went south 11.03 points, to 8,464.28
Cisco Systems dropped 1.5%, and Qualcomm shares retreated 2.3%, , following analyst downgrades. Those losses were offset slightly by a 5.1% jump in Walgreens Boots Alliance.
In corporate news, Bloomberg News reported private equity company KKR formally approached Walgreens about a potential leveraged buyout. The report comes after sources told the media the drug store chain was thinking about going private.
The major indexes had been on a tear recently that led them to all-time highs. Over the past month, the Dow is up around 3%. The S&P 500 has taken on 4%, and the NASDAQ has risen about 5%.
President Donald Trump said Friday he had not agreed to roll back tariffs on China. Those comments came after the Chinese commerce ministry said that both sides had agreed to cancel existing tariffs in phases. A U.S. official also reportedly said both sides agreed to roll back the tariffs in tranches.
The stock market’s recent move to record highs comes in part because of improving sentiment around U.S.-China trade talks. With his comments on Friday, Trump dampened trade expectations in the market.
Bond markets in the U.S. were closed for Veterans Day
Oil prices retreated 35 cents to $56.89 U.S. a barrel.
Gold prices fell $7.10 to $1,455.80 U.S. an ounce.
