Canadian stocks fell slightly on Monday with the financials as the greatest pressure. The S&P/TSX Composite Index closed down 14.26 points, or 0.12 percent, at 12, 190.60.
Seven out of 12 sectors on the Toronto Stock Exchange (TSX) registered gains on Monday with the index measuring the information technology sector rising 1.39 percent. The index measuring the diversified metals and mining sector rose 1.04 percent. The gains and losses of all the other sectors were less than one percent.
Celestica Inc. surged 5.14 percent. CGI Group Inc. climbed 2.75 percent. MacDonald, Dettwiler and Associateds Ltd. added 1.34 percent.
Teck Resources Ltd., Canada’s largest base-metals producer, increased 1.98 percent.
Financials were heavy pressures on Monday on the TSX. The index measuring the financials sector on the TSX lost 0.61 percent. Royal Bank of Canada, the country’s biggest lender, decreased 0.84 percent. Toronto-Dominion Bank, the country’s second largest lender, dropped 0.77 percent.
Bank of Nova Scotia announced on Monday that it has agreed to acquire Royal Bank of Scotland’s Chilean wholesale banking operations, extending the Canadian bank’s footprint in Latin America.
On the currency front, the Canadian dollar depreciated against its U.S. counterpart on Monday.
One U.S. dollar was buying 1.0291 Canadian dollars at 5 p.m. local time (2100 GMT) on Monday, compared with one U.S. dollar buying 1.0246 Canadian dollars on Friday. (PNA/Xinhua)