The Canadian stock market recovered after a weak start, but failed to move any significantly up as the mood remained cautious due to uncertainty about Sino-U.S. trade talks and on concerns about the political unrest in Hong Kong.
Weak crude oil and gold prices too weighed on stocks. Also, a bit of profit taking after six successive days of gains dragged down a few stocks.
The benchmark S&P/TSX Composite Index ended up 5.41 points, or 0.03%, at 16,882.83, after scaling a low of 16,819.85 and a high of 16,895.12 in the session.
Cannabis shares were among the prominent losers. Information technology and telecommunications shares moved higher, while energy, materials, financial and consumer discretionary shares turned in a mixed performance.
Hexo Corp. (HEXO.TO) declined 8.75%. Canopy Growth Corporation (WEED.TO), Cronos Group Inc. (CRON.TO), Aurora Cannabis Inc. (ACB.TO) lost 5 to 5.2%. Aphria Inc. (APHA.TO) ended nearly 3% down and Extendicare (EXE.TO) shed about 2.2%.
Information technology shares Celestica Inc. (CLS.TO), Open Text Corporation (OTEX.TO), Shopify Inc. (SHOP.TO), Photon Control (PHO.TO), Kinaxis Inc. (KXS.TO) and Constellation Software (CSU.TO) gained 1.3 to 3%.
Encana Corporation (ECA.TO) declined nearly 5% on strong volumes. Bombardier Inc. (BBD.B.TO) and Cenvous Energy (CVE.TO) gained 2.5% and 2.25%, respectively. Crescent Point Energy (CPG.TO) moved up 1.3%.
Canadian Tire Corporation (CTC.TO) gained nearly 7.5%. Canada Goose Holdings Inc. (GOOS.TO), Quebecor Inc. (QBR.B.TO) and Thomson Reuters (TRI.TO) moved up 2 to 4%.
U.S. stocks recovered after a weak start but showed a lack of direction over the course of the trading session on Monday.
The major averages closed mixed, with the Dow inching up to a new record closing high.
Major European markets turned in a mixed performance and stock markets across the Asia-Pacific region moved mostly lower.
In commodities, West Texas Intermediate Crude oil futures for December ended down $0.38, or 0.7%, at $56.86 a barrel.
Gold futures for December ended down $5.80, or about 0.4%, at $1,457.10 an ounce, the lowest settlement in nearly three months. Gold futures touched a low of $1,448.90 in the session.
On Friday, gold futures for December ended down $3.50, or 0.2%, at $1,462.90 an ounce. Gold futures shed about 3.2% last week.
Silver futures for December ended down $0.021, at $16.802 an ounce, while Copper futures for December settled at $2.6640 per pound, down $0.0180 from previous close.
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