TSX Flat Following Two Weeks of Gains

Jan 07, 2019 (Baystreet.ca via COMTEX) —

Canada’s main stock index was little changed at open on Monday, after notching two weeks of gains, as gains in health-care stocks were stymied by losses in energy and finance stocks.

The S&P/TSX Composite Index fell 19.55 points, or 1.5%, to begin Monday at 14,426.62

The Canadian dollar squeezed higher 0.13 cents at 74.92 U.S.

Suncor Energy said it expects total upstream production to rise by about 13% in the fourth quarter of 2018, driven by higher output from its majority-owned Syncrude oil project in northern Alberta.

Suncor shares dropped 39 cents, or 1%, to $38.89.

RBC cut the rating on MEG Energy to sector perform from outperform. MEG shares lost 22 cents, or 2.7%, to $7.95.

RBC cut the price target on Peyto Exploration & Development to $9.00 from $12.00. Peyto shares hesitated 30 cents, or 3.8%, to $7.52.

On the economic front, Western University’s IVEY School of Business said its Purchasing Managers Index registered 59.7 for December, compared to 57.2 the month before and 60.4 in December 2017.

ON BAYSTREET

The TSX Venture Exchange gained 3.62 points to 591.06

All but three of the 12 TSX subgroups were in the red, with energy ducking 1.2%, while materials and communications each shed 0.5%.

The three gainers were health-care, haler by 2.2%, information technology, up 0.5%, and real-estate, up 0.2%.

ON WALLSTREET

The Dow Jones Industrial Average fell on Monday, giving back part of a massive rally from the previous session. Investors also pored through the latest U.S.-China trade news as the two countries try to hammer out a permanent deal.

The 30-stock index dipped 26.89 points to 23,406.27

The S&P 500 inched up 3.75 points to 2,535.39, as the utilities and consumer staples lagged.

The NASDAQ Composite gained 24.69 points to 6,762.84,

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