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Mining industry

Canadian Stocks Experience Mixed Day with S&P/TSX Composite Index Closing Down 0.07 Percent

Strategic Insights

— 1 min read

Canadian stocks experienced a mixed trading day on Monday, with the S&P/TSX Composite Index closing down 0.07 percent. The materials sector was particularly affected, with the S&P/TSX Materials Index declining 2.05 percent. On the other hand, the financials sector provided some support, with the S&P/TSX Financials Index gaining 0.81 percent. The S&P/TSX Venture Composite Index also closed down 1.99 percent. In corporate news, American drug developer Cephalon Inc. was acquired by Teva Pharmaceutical Industries Ltd. after a hostile bid from Toronto-based Valeant Pharmaceuticals. BlackBerry maker Research In Motion Ltd. also made headlines with the announcement of two new BlackBerry Bold smartphone models and a planned new operating system.

Key Takeaways:

  • The S&P/TSX Composite Index closed down 10.28 points, or 0.07 percent, at 13,934.51.
  • The S&P/TSX Materials Index dropped 2.05 percent, with Barrick Gold Corp. declining 2.24 percent and Goldcorp Inc. tumbling 5.24 percent.
  • The S&P/TSX Financials Index gained 0.81 percent, with Manulife Financial Corp. climbing 3.00 percent and Bank of Nova Scotia increasing 1.23 percent.
  • The S&P/TSX Venture Composite Index closed down 44.74 points, or 1.99 percent, at 2,207.40.
  • American drug developer Cephalon Inc. was acquired by Teva Pharmaceutical Industries Ltd. after a hostile bid from Toronto-based Valeant Pharmaceuticals.
  • BlackBerry maker Research In Motion Ltd. announced two new BlackBerry Bold smartphone models and a planned new operating system.

Statistics:

  • The S&P/TSX Composite Index closed at 13,934.51, down 10.28 points from the previous day.
  • The S&P/TSX Materials Index declined 2.05 percent, with a 2.24 percent drop for Barrick Gold Corp. and a 5.24 percent drop for Goldcorp Inc.
  • The S&P/TSX Financials Index gained 0.81 percent, with a 3.00 percent increase for Manulife Financial Corp. and a 1.23 percent increase for Bank of Nova Scotia.
  • The S&P/TSX Venture Composite Index closed at 2,207.40, down 44.74 points from the previous day.

Sources:

  • "Canadian stocks lose on Monday." Xinhua, May 02, 2011.
  • "SmarTrend Alert." Comtex News Network, Inc., April 28, 2011.
  • "Statistics Canada's Industrial Product Price Index rose 0.9 percent in March and the Raw Materials Price Index grew 5.7 percent." Statistics Canada, [no date].

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