Only Health-care Shows Positive Readings
Canada’s main stock index fell to a two-week low on Monday as lower oil prices pressured energy shares, while Bombardier Inc got a boost from an order to buy the company’s CS300 aircraft.
The S&P/TSX Composite Index retreated 58.15 points to greet noon at 16,017.52
The Canadian dollar ducked 0.82 cents at 76.82 centsU.S.
Bombardier said it had completed the sale of 30 CS300 aircraft to Latvia’sAir Baltic Corp, valuing the firm order at about $2.9 billion based on the list price. The company’s shares rose 10 cents, or 2.3%, to $4.47.
Shares of WestJet Airlines rose 56 cents, or 2.8%, to $20.93. Pilots who fly for the company’s budget carrier Swoop will now be unionized, a concession which resolves a key obstacle in a labor dispute with the airline, a negotiator with the Air Line Pilots Association said.
Pan American Silver Corp shares fell $1.20, or 5.1%, to $22.17 after the company initiated steps to reduce certain activities at the Dolores Mine in Mexico.
In the energy field, Suncor collapsed 49 cents, or 1%, to $50.27.
Among gold shares, Goldcorp dropped 20 cents, or 1.1%, to $18.02.
One of the few bright spots came among health-care issues, where Aurora Cannabis gained 11 cents, or 1.4%, to $8.13.
Oil prices surrendered $1.43 a barrel to $66.45U.S.
Gold prices tumbled $5.60 to $1,298.10 an ounce.
The TSX Venture dropped 2.52 points by noon to 772.89
All but one of the 12 TSX subgroups were lower midday, with materials down 0.7%, while energy and gold each sank 0.5%.
The lone gainer was in health-care, up 0.9%.
U.S. markets are closed for Memorial Day.
American Markets Enjoy Day Off
This article provided by NewsEdge.