Rising base metal stocks could not prevent a drop in Toronto's main index on Monday, as gold and energy shares slumped due to profit taking.
The S&P/TSX Composite Index slipped 64.70 points, or 0.46 percent, to 13,907.32.
The Diversified Metals and Mining Index rose 1.87 percent after gold miner Barrick (ABX.TO) said it would buy Equinox Minerals (EQN.TO) in a C$7.3 billion all cash deal, trumping a bid from China.
Equinox shares rose more than 11 percent, while First Quantum Minerals (FM.TO) added 5 percent.
Barrick lost 6.7 percent to lead gold shares lower. U.S. gold futures for June delivery rose $5.30 to end at $1,509.10 an ounce. Earlier in the day, gold reached a record peak of $1,518.60.
A South American airline purchased three Bombardier CRJ900 regional jets. Shares of Bombardier (BBD.B.TO) rose 2.3 percent.
Crowflight Minerals Inc. (CML.TO) jumped 6.25 percent, saying that mining had resumed at its Bucko Lake project in northern Manitoba.
Aluminum and carbon steel products company Omni-Lite Industries Canada Inc. (OML.V) said its 2010 profits rose to a record $1.8 million from $457,000 in 2009. The stock rose 3.8 percent.
Insurer Kingsway Financial Services (KFS.TO) gathered 1 percent after announcing that William Hickey, Jr., currently the company's chief operating officer, will take on the additional responsibility of chief financial officer, or CFO.
Baja Mining (BAJ.TO) edged up 2.5 percent. The Mexico focused metals miner said Friday that its Board of Directors has approved the adoption of a shareholder rights plan. Normally, companies opt for adoption of rights plan in reaction to any anticipated takeover bid.
In economic news, U.S. sales of new homes rebounded 11.1 percent in March to a seasonally adjusted annual rate of 300,000, the Commerce Department said Monday.
Still, new home sales were down 21.9 percent from March 2010 levels.
For comments and feedback contact: editorial@rttnews.com
April 17, 2026 15:29 ET The ongoing conflict in the Middle East continues to raise concerns for policymakers who worry about the impact of the supply shock and high energy prices on the real economy. Producer price data and various survey results on the housing market were the main news from the U.S. this week. In Europe, industrial production data for the euro area gained attention. GDP figures out of China and the policy move by the Singapore central bank were in focus in Asia.