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Miners Weigh on Index at Open

Baystreet - Mon Apr 8, 9:34AM CDT
The major index for stocks in Canada lost some steam in the early going on Monday, mostly the fault of materials-linked shares, while investors awaited a busy week with the Bank of Canada's rate decision and key economic data releases in the United States.

The TSX Composite slumped 33.56 points Monday to 22,230.82.

The Canadian dollar gained 0.11 cents at 73.61 cents U.S.

In corporate news, Royal Bank of Canada on Friday said it appointed Katherine Gibson as interim Chief Financial Officer, effective immediately, following the departure of Nadine Ahn, who was fired over an undisclosed relationship. Shares in Canada’s biggest bank lost a penny per share to $139.10.

ON BAYSTREET

The TSX Venture Exchange improved 1.36 points to 585.69.

The 12 TSX subgroups were evenly split in the first hour, with health-care dropping 1.6%, gold dulling in price 1.3%, and materials weaker by 0.9%.

The half-dozen gainers were co-led by industrial and consumer staple stocks, each up 0.4%. and utilities, squeezing up 0.2%

ON WALLSTREET

Stocks were flat Monday as investors tried to regain their footing following a pullback last week.

The Dow Jones Industrial Average gained 57.88 points to 38,961.62.

The S&P 500 added 5.94 points to 5,210.28.

The NASDAQ jumped 33.81 points to 16,282.33.

Tesla shares were up more than 4% after CEO Elon Musk said the company’s robotaxi will be unveiled in early August.

Prices for the 10-year Treasury sagged, boosting yields to 4.42% from Thursday’s 4.4%. Treasury prices and yields move in opposite directions.

Oil prices faltered $1.30 to $85.61 U.S. a barrel.

Gold prices dumped $6.50 to $2,342.00 U.S. an ounce.


Provided Content: Content provided by Baystreet. The Globe and Mail was not involved, and material was not reviewed prior to publication.

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