CANADA STOCKS-TSX falls as energy, mining stocks weigh
Canada’s main stock index fell on Monday, as energy and mining stocks pulled back with oil prices slightly lower, while consumer names made some gains.
The most influential weights on the index included Canadian Natural Resources, which fell 1.9 percent to C$34.54, and Canadian National Railway, which lost 1.2 percent to C$79.53.
The energy group retreated 1.2 percent, while industrials fell 0.6 percent.
The materials group, which includes precious and base metals miners and fertilizer companies, lost 1.5 percent.
Potash Corp declined 1.9 percent to C$22.20 and Goldcorp Inc shed 2.1 percent to C$20.48.
At 9:56 a.m. EDT (1356 GMT), the Toronto Stock Exchange’s S&P/TSX composite index fell 58.72 points, or 0.44 percent, to 13,299.39.
Six of the index’s 10 main groups were in negative territory, with decliners outnumbering advancers by 1.8-to-1.
On the positive side, the most influential gainers included insurer Sun Life Financial Inc, which rose 0.7 percent to C$41.78, and National Bank of Canada, which advanced 0.8 percent to C$41.89.
The consumer discretionary sector gained 0.5 percent, with discount chain Dollarama Inc up 1.1 percent at C$80.31, fast food chain Restaurant Brands International adding 1.1 percent to C$41.93, and retailer Canadian Tire Corp rising 1 percent to C$133.48.
European markets are closed for the Easter Monday holiday.
The country’s finance minister said on Sunday that the federal budget will be balanced in “about” five years, after the government unveiled a 2016-17 budget with a deficit nearly three times larger than initially promised.