Equity markets in
The S&P/TSX composite index faded 31.39 points to greet noon at 15,077.58. Still, the benchmark index is up about 11% this year.
The Canadian dollar gathered
Financials moved lower, with Toronto-Dominion Bank losing 0.5% to
The materials sector, which includes mining stocks, advanced helped by an increase in copper prices. First Quantum Minerals jumped 1.4% to
In corporate news, Allergan Inc. advised investors not to sell their shares to Valeant Pharmaceuticals International, which launched a hostile takeover offer for the
Allergan said Valeant's offer was "grossly inadequate". Valeant shares fell 1.2% to
Canadian engineering and construction company SNC-Lavalin Group said that it would acquire British energy services provider Kentz Corp for about 1.16 billion pounds (
On the economic front, data showed the Chinese manufacturing sector moving into expansion territory. HSBC's purchasing managers' index hit a seven-month high at 50.8, the first time the index has moved above the 50 level since December.
However, other data showed that business activity in the euro-zone slowed for a second straight month in June. Data firm Markit said its composite purchasing managers index for the euro-zone fell to 52.8 from 53.5 in May. Activity in
Nine of the 14 Toronto subgroups were lower by noon hour ET. Consumer discretionary dipped 0.9%, health-care stocks shed 0.7%, and real-estate stocks fell 0.6%.
The five gainers were led by gold, up 1.2%, global base metals, up 1.1%, and materials, up 0.9%.
Stocks continue to slide, amid the
The Dow Jones Industrials faded 38.90 points to pause for lunch at 16,908.18
The S&P 500 deducted 3.13 points from Friday's all-time record to 1,959.74, and the NASDAQ composite ducked back 0.11 points to 4,367.93
Many still hope this could be the week the Dow cross the 17,000 mark for the first time, but it's not looking promising today. It's largely a psychological barrier, but it would be another point in the market's phenomenal bull run that saw the Dow close above 16,000 for the first time just seven months ago.
Lululemon shares are bouncing this morning after the
American Apparel shares are flat on rumors that the company make be a potential takeover target. It's the latest twist impacting the brand. Last week the company fired controversial CEO
General Electric has finally closed the deal on French company Alstrom to the tune of
Wisconsin Energy announced this morning that it will acquire Integrys Energy Group for
Crude oil prices rose Monday as investors worry about militants taking over large parts of
Things are looking up in the U.S. America's purchasing managers index came in above expectations and is pointing toward growth in the sector the second half of the year. Additionally, the Federal Reserve Bank of
Homebuilder stocks like Toll Brothers, PulteGroup and Lennar and all positive.
The NAR said that May's uptick, at nearly 5%, was the fastest month-to-month growth since
Prices for 10-year U.S. Treasuries were higher, lowering yields to 2.60% from Friday's 2.62%. Treasury prices and yields move in opposite directions.
Oil prices slipped
Gold prices slumped
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