By Ketki Saxena
Investing.com -- The TSX traded on a downbeat note on Monday, even as Wall Street Indies inched higher. The commodity-heavy Canadian index as pressured by sliding metal and crude prices on disappointing economic data from China.
China reported only a slight increase in economic growth at 0.8% for Q2, and annual growth slowed significantly to 6.3%, drastically lower than expected projections of 7.3%.
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Shares of Constellation Software (TSX:CSU) witnessed an uptick after the company announced plans to acquire Optimal Blue business from mortgage data vendor Black Knight for US $700 million.
Teck Resources (TSX:TECKa) is reportedly facing interest from India's largest steel producer, JSW Steel Ltd., which s reportedly eyeing the acquisition of up to a 20% share in Teck's coal mining operations.
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In Canadian Economics
In May foreign investment into Canadian securities amounted up to $11.2 billion— primarily boosted strong international purchases involving federal government debt securities. Canadian investors however cut back their holdings in foreign securities by around $2.8 billion—primarily selling off US government debt securities. The result was net inflow funds amounting to approximately $13.9 billion.
Statistics Canada reports that wholesale sales in May rose by almost 3.5% reaching nearly $83.6 billion during May, excluding petroleum products and hydrocarbons including oilseed and grain.