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April 16, 2012, 5:31 p.m. EDT

Canadian stocks edge lower as miners weigh

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By Sue Chang, MarketWatch

SAN FRANCISCO (MarketWatch) — Canada’s benchmark index edged down on Monday after hugging the flatline for most of the session with mining shares taking the brunt of the selling pressure.

The S&P/TSX Composite Index  slipped 2.80 points to close at 12,037.59.

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U.S. March retail sales rise 0.8%

U.S. stock futures rose, bouncing from last week's sharp losses, as gains in European markets helped buoy sentiment and March retail sales posted a gain of 0.8%. Paul Vigna has details on The News Hub. Photo: Getty Images.

The S&P/TSX Capped Diversified Metals & Mining Index  slumped 2% and the S&P/TSX Capped Materials Index /zigman2/quotes/210598474/delayed XX:TORGC195 -0.33%  fell 1.4%.

Gold for June delivery /zigman2/quotes/210036777/delayed GCM22 -0.24%  declined $10.50, or 0.6%, to close at $1,649.70 an ounce, its lowest finish in one week. Read the gold report.

Losses in mining shares were partially offset by gains in the S&P/TSX Capped Financial Index XX:TORGC189 -0.18% , the S&P/TSX Capped Telecommunications Services Index XX:TORGC198 -0.05%  and the S&P/TSX Capped Consumer Staples Index XX:TORGC185 +0.24% .

U.S. economy sent out mixed signals with the National Association of Home Builders/Wells Fargo housing market index falling 3 points to a seasonally adjusted 25 in April, marking the first drop in seven months. Read more on home-builder sentiment.

The New York’s Empire State index also slid to 6.56 in April from 20.21 in March but the Commerce Department said retail sales climbed 0.8% in March. Read more on U.S. retail sales.

The Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA +0.13%  rose 71.82 points, or 0.6%, to end at 12,921.41 and the S&P 500 /zigman2/quotes/210599714/realtime SPX +0.24%  lost 0.69 point to 1,369.47.

Shares of Ivanhoe Mines /zigman2/quotes/207656050/delayed CA:IVN -0.17%   sank 5.7% in Toronto. The Mongolian government said it is suspending certain mining licenses owned by SouthGobi Sands. Ivanhoe has a controlling stake in SouthGobi Resources Ltd. which owns SouthGobi Sands. The move is believed to be related to the proposed sale of Ivanhoe’s stake to Aluminum Corporation of China Ltd.

Toronto-listed shares of Canadian Pacific Railway Ltd. /zigman2/quotes/205690198/delayed CA:CP -0.05%   /zigman2/quotes/204163517/composite CP -0.08%  gained 0.3% after Bill Ackman of Pershing Square reportedly criticized the company for failing to improve business. Canadian Pacific responded by accusing Ackman of ignoring progress it had made.

In currencies, the Canadian dollar softened, with the U.S. dollar /zigman2/quotes/210561978/realtime/sampled USDCAD -0.2458%  buying 99.96 Canadian cents versus 99.80 on Friday.

/zigman2/quotes/210598474/delayed
XX : Canada: Toronto
309.78
-1.03 -0.33%
Volume: 30.44M
Nov. 27, 2020 2:30p
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/zigman2/quotes/210036777/delayed
US : U.S.: Nymex
$ 1,836.00
-4.40 -0.24%
Volume: 0.00
Nov. 25, 2020 5:09p
loading...
XX : Canada: Toronto
307.15
-0.55 -0.18%
Volume:
Nov. 26, 2020 12:00a
loading...
XX : Canada: Toronto
166.36
-0.08 -0.05%
Volume:
Nov. 26, 2020 12:00a
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XX : Canada: Toronto
637.97
+1.55 +0.24%
Volume:
Nov. 26, 2020 12:00a
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/zigman2/quotes/210598065/realtime
US : Dow Jones Global
29,910.37
+37.90 +0.13%
Volume: 178.10M
Nov. 27, 2020 2:07p
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/zigman2/quotes/210599714/realtime
US : S&P US
3,638.35
+8.70 +0.24%
Volume: 1.22B
Nov. 27, 2020 2:07p
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/zigman2/quotes/207656050/delayed
CA : Canada: Toronto
$ 5.88
-0.01 -0.17%
Volume: 714,677
Nov. 27, 2020 2:25p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$7.10 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/205690198/delayed
CA : Canada: Toronto
$ 421.94
-0.21 -0.05%
Volume: 155,463
Nov. 27, 2020 2:29p
P/E Ratio
25.01
Dividend Yield
0.90%
Market Cap
$56.78 billion
Rev. per Employee
$572,905
loading...
/zigman2/quotes/204163517/composite
US : U.S.: NYSE
$ 325.93
-0.26 -0.08%
Volume: 118,602
Nov. 27, 2020 1:00p
P/E Ratio
25.99
Dividend Yield
0.89%
Market Cap
$43.84 billion
Rev. per Employee
$442,006
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/zigman2/quotes/210561978/realtime/sampled
US : Tullett Prebon
1.2986
-0.0032 -0.2458%
Volume: 0.0000
Nov. 27, 2020 2:45p
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Sue Chang is a MarketWatch reporter in San Francisco.

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