Baystreet.ca - Stocks in Toronto spent a day on the volatile side Monday, as health-care and utility weakness slumped.
The TSX Composite Index fell 60.12 points to close Monday at 24,102.71
The Canadian dollar shed 0.23 cents to 73.41 cents U.S.
In corporate news, Chevron (NYSE:CVX) would sell its non-operated interest in the Athabasca Oil (TSX:ATH) Sands project and its operated interest in Duvernay shale to Canadian Natural Resources (TSX:CNQ) for $6.5 billion. Canadian Natural Resources stock leaped $1.59, or 3.3%, to $49.81.
In health-care issues, Sienna Senior Living (TSX:SIA) docked 35 cents, or 2.1%, to $16.06, while Bausch Health (TSX:BHC) Companies fell 20 cents, or 1.8%, to $11.10.
Meanwhile, lower gold and copper prices weighed on heavyweights Agnico Eagle, down 41 cents to $106.56, Barrick Gold (NYSE:GOLD), slumping 16 cents to $27.11, Franco-Nevada (TSX:FNV), up five cents to $164.04, and Ivanhoe Mines (TSX:IVN), slipping 59 cents, or 2.9%, to $19.93.
Additionally, e-commerce giant Shopify (TSX:SHOP) lost $1.72, or 1.5%, to $110.19.
In contrast, rising oil prices boosted energy producers Suncor (TSX:SU), up 94 cents, or 1.7%, to $55.17, Imperial Oil (TSX:IMO), ahead $3.19, or 3%, to $107.98, and Cenovus (TSX:CVE), up 20 cents to $25.00.
ON BAYSTREET
The TSX Venture Exchange gave back 3.01 points to 592.25
All but one of the 12 TSX subgroups lost ground at the close, with health-care and utilities each fading 1.9%, while information technology lost 1.1%.
Only energy experienced gains, up 1.7%.
ON WALLSTREET
Stocks struggled Monday as rising oil prices and higher Treasury yields weighed on market sentiment.
The Dow Jones Industrials plunged 398.51 points to 41,954.24.
The S&P 500 index swooned 55.13 points, or 1%, to 5,695.94.
The NASDAQ Composite skidded 213.95 points to 17,923.90.
Monday’s moves come after a bumpy week for stocks that saw the major averages grind out modest gains. The S&P 500 added 0.2% for the week, while the NASDAQ Composite inched up 0.1% and the Dow added 0.1%.
Earnings season heating up, with results from Delta Air Lines (NYSE:DAL) on Thursday, and JPMorgan Chase (NYSE:JPM) on Friday. Meanwhile, shares in Delta headed higher 19 cents to $49.47, while Morgan shares retreated 28 cents to $210.93.
On the economic front, key releases in the week ahead include the Federal Reserve meeting minutes on Wednesday and the consumer price index report on Thursday.
Prices for the 10-year Treasury dropped, making yields soar to 4.02% from Friday’s 3.97%. Treasury prices and yields move in opposite directions.
Oil prices improved $2.93 to $77.31 U.S. a barrel.
Gold prices stumbled $5.20 to $2,602.60 U.S. an ounce