Traders work on the floor of the New York Stock Exchange June 18, 2012.BRENDAN MCDERMID/Reuters
The Toronto stock market was slightly higher near midday on Monday as investors weighed the outcome of the Greek elections against concerns about Spain's debt troubles.
The S&P/TSX composite index moved up 18.42 points to 11,543.32, as traders navigated through a volatile trading session. The TSV Venture Exchange gained 2.74 points to 1,253.76.
Celestica Inc. announced Monday that it plans to wind down its manufacturing services for Research in Motion over the next three to six months.
On the TSX Celestica shares were up seven cents at $7.68 at midday Monday, while RIM shares were down 23 cents at $10.94.
The Canadian dollar moved lower Monday as commodity prices weakened and expectations for economic data due later this week remained soft.
The loonie was down 0.37 of a cent at 97.46 cents U.S.
Data on wholesale and retail sales is due out Tuesday and Thursday, respectively, and economists expect both to show that growth is slowing.
Gold bullion dropped $4.60 to $1,623.50 U.S. an ounce while July copper edged up one cent to $3.40 U.S. a pound.
The Dow Jones industrial average fell 26.71 points, or 0.21 per cent, to 12,740.46. The S&P 500 Index d1pped 0.96 point, or 0.07 per cent, to 1,341.88. The Nasdaq Composite gained 10.81 points, or 0.38 per cent, to 2,883.61.
The NAHB/Wells Fargo Housing Market index rose one point from the month before to 29, its highest level in five years, but still well below 50 needed to indicate a favourable view.
Still, homebuilder stocks rose and helped the S&P consumer discretionary sector gain for the day.
Pulte Homes shares rose 2.5 per cent to $9.25 and Lennar Corp added 1.4 per cent to $26.25.
DSW Inc. plunged 11.9 per cent to $51.79 after the footwear retailer gave guidance for its second-quarter and full-year earnings.
Investors appeared skeptical that European policy makers' would be able to resolve a crisis that has bedeviled markets for more than three years.
European shares erased early gains and closed flat, with the FTSEurofirst 300 index unofficially down 0.01 percent.
While Germany's DAX closed 0.3 per cent higher at 6,248.20, France's CAC-40 fell 0.7 per cent to 3,066.19. Britain's FTSE 100 rose 0.2 per cent to 5,491.09.
The biggest market movements were in the next most financially vulnerable countries, like Spain and Italy.
Spain's benchmark 10-year bond yield jumped 0.25 percentage points to 7.12 percent, around the levels that caused Greece, Ireland and Portugal to need foreign aid. Spain could be able to withstand raising money at those rates for a few weeks, but would find it too expensive in the longer term. Madrid's main stock exchange closed down 3 per cent.
The euro fell 1 per cent to $1.2569.
With files from The Associated Press