Canada's main stock index opened lower on Monday, tracking Wall Street, as investors were wary about a second wave of coronavirus infections after several countries revived economic activities.
The S&P/TSX Composite Index deducted 66.74 points to begin Monday at 14,899.82.
The Canadian dollar slid 0.15 cents to 71.46 cents U.S.
Canadian precious metals producer SSR Mining said on Monday it would acquire Alacer Gold in an all-stock deal valued at $2.41 billion to create a diversified gold producer.
SSR shares eased off six cents to $25.17, while Alacer shares gained 5.5 cents to $8.24.
National Bank of Canada upped the target price on Constellation Software to $1,400 from $1,300. Constellation shares went lower $25.09, or 1.7%, to $1,440.00
Canaccord Genuity upped the target price on Profound Medical to $21.00 from $20.00. Profound shares nicked ahead three cents to $19.03.
CIBC cut the target price on SNC-Lavalin Group to $35.00 from $37.00. SNC lost a penny to $21.50.
The total fatalities among coronavirus patients in Canada rose 2.2% to 4,728 on Sunday, one of the lowest daily increases since the outbreak started, official public health agency data showed.
ON BAYSTREET
The TSX Venture Exchange gained 3.42 points to 495.51.
All but two of the 12 TSX subgroups were negative in the first hour, with health-care tumbling 1.8%, real-estate and energy each down 1.1%.
The two stalwarts proved to be information technology, advancing 0.9%, and gold, inching up 0.2%.
ON WALLSTREET
Stocks fell on Monday, giving back some of last week’s solid gains, amid jitters about reopening the economy too soon.
The Dow Jones Industrials handed back 210.97 points to 24,120.35.
The S&P 500 sank 15.67 points to 2,914.13.
The tech-heavy index NASDAQ traded higher 7.21 to 9,128.54, recovering most of its earlier losses, as Amazon, Netflix, Alphabet and Apple all rose.
Disney lost 1.2%. MGM fell 3.6%. United Airlines lost 3.6%.
Apple said Friday it will start to reopen U.S. stores this week. The stores, Apple said, will have temperature checks and will limit the number of customers inside the store at once. Apple shares lost 0.7% Monday.
A jump in infections in South Korea and other countries that appeared passed the worst of the coronavirus stoked some jitters here. Stocks that would benefit most from reopening led the losses including airlines, retailers, cruise lines and casinos.
South Korea warned of a new cluster of cases involving night clubs and the number of new coronavirus cases worldwide reached four million. Singapore and Japan also confirmed new cases.
Prices for the 10-Year Treasury were flat, keeping yields at Friday’s 0.68%.
Oil prices gained 14 cents to $24.88 U.S. a barrel.
Gold prices dipped $5.90 to $1,708.00 U.S. an ounce.
