Stocks Dip at Outset

Apr 15, 2019 (Baystreet.ca via COMTEX) —

Canada’s main stock index fell on Monday, as oil prices halted their rally, pressuring the energy sector.

The S&P/TSX Composite Index subtracted 31.26 points, to open a short week at 16,449.27

The Canadian dollar gained 0.08 cents at 75.09 cents U.S.

Markets will be closed Friday for Good Friday

Lundin Mining said it plans to buy one of Yamana Gold’s gold-copper mines in Brazil for more than $1 billion.

Lundin shares gained 42 cents, or 6.2%, to $7.25. Yamana shares retreated 14 cents, or 4.1%, to $3.28.

Officials say Vermilion Energy will drill its first two exploration wells in Croatia in June. Shares in Vermilion lost 10 cents to $35.03.

Gulfstream Aerospace and Bombardier are trotting out their longest-range business jets at an Asian air show this week, as they compete for orders from China’s growing elite, despite the country’s slowing economy.

Bombardier lost seven cents a share, or 2.6%, to $2.64.

RBC raised the target price on Alimentation Couche-Tard to $88.00 from $85.00. Couche-Tard slid 52 cents to $81.28.

Eight Capital raised the rating Kirkland Lake Gold to “buy” from “neutral”. Kirkland Lake Gold climbed 34 cents to $42.54.

Desjardins raised the target price Manulife Financial to $28.00 from $27.00. Manulife shares gained 10 cents to $24.27.

Aphria Inc fell $1.83, or 13.7%, the most on the TSX, to $11.58, after reporting quarterly revenue that missed expectations.

On the economic calendar, the Canadian Real Estate Association reported home sales via Canadian MLS Systems edged up 0.9% in March following a sharp drop in February, leaving activity near some of the lowest levels recorded in the last six years.

ON BAYSTREET

The TSX Venture Exchange docked 4.02 points to 621.62

Eight of the 12 Toronto subgroups were in red in the first hour

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