Canada's equity market closed modestly lower on Monday, with sector declines in Healthcare, REITs and Consumer Staples contributing to a 0.16% drop in the S&P/TSX Composite at the Toronto close.
Mining and materials stocks were among the session's brightest spots. NovaGold Resources Inc (TSX:NG) finished as one of the top performers, climbing 5.53% - or 0.75 points - to close at 14.32. Ivanhoe Mines Ltd. (TSX:IVN) added 4.48% - or 0.76 points - to end at 17.72, and Eldorado Gold Corp (TSX:ELD) rose 4.45% - or 2.82 points - to 66.12 in late trade.
On the downside, aircraft and related manufacturing shares led the losers. Bombardier Inc (TSX:BBDb) fell 9.34% - a decline of 24.81 points - to finish at 240.88. Energy Fuels Inc. (TSX:EFR) dropped 8.46% - or 2.95 points - closing at 31.93, while Seabridge Gold Inc. (TSX:SEA) gave back 6.87% - or 3.42 points - to end the session at 46.37.
Declining issues outnumbered advancing ones on the Toronto Stock Exchange by 508 to 467, with 79 stocks unchanged at the close.
Certain names pushed to new price milestones during the session. Shares of Ivanhoe Mines rose to 52-week highs, increasing 4.48% or 0.76 to 17.72, and Eldorado Gold reached five-year highs after a 4.45% gain of 2.82 to 66.12.
Volatility in the large-cap Canadian index showed a modest uptick. The S&P/TSX 60 VIX, which tracks implied volatility for options on the S&P/TSX Composite, was up 3.27% to 15.46 by the close.
Commodities followed mixed patterns. Gold futures for April delivery rose 0.71% - an increase of 35.61 - to trade at 5,052.61 a troy ounce. By contrast, crude oil for March delivery fell 0.59% - or 0.36 - to $60.71 a barrel, while the April Brent contract dipped 0.38% - or 0.25 - to $64.82 a barrel.
In currency markets, CAD/USD was unchanged 0.08% to 0.73, while CAD/EUR was unchanged 0.50% to 0.61. The US Dollar Index Futures was down 0.54% at 96.88.
Overall, the session combined sector-specific weakness in areas such as Healthcare, REITs and Consumer Staples with selective strength among mining stocks and a slight rise in market-implied volatility.
Data points referenced - S&P/TSX Composite: -0.16%; Top gainers: NG +5.53% (14.32), IVN +4.48% (17.72), ELD +4.45% (66.12); Top losers: BBDb -9.34% (240.88), EFR -8.46% (31.93), SEA -6.87% (46.37); Advancers/Decliners: 467/508, Unchanged: 79; S&P/TSX 60 VIX: +3.27% (15.46); Gold (Apr): +0.71% (5,052.61), Crude oil (Mar): -0.59% (60.71), Brent (Apr): -0.38% (64.82); FX: CAD/USD unchanged 0.08% (0.73), CAD/EUR unchanged 0.50% (0.61); US Dollar Index Futures: -0.54% (96.88).