Canadian stocks ended lower Monday, as commodities declined amid a strong dollar and demand growth concerns resurfaced after some soft macroeconomic data out of China, the second largest economy in the world. Investors also continued to be apprehensive over speculations the Federal Reserve will start scaling back its monetary stimulus program earlier than expected.
The S&P/TSX Composite Index closed Monday at 12,529.55, down 59.54 points or 0.47 percent. The index touched an intraday high of 12,586.25 and a low of 12,479.11.
The Global Gold Index dived 2.42 percent, with gold futures for June delivery shedding $2.30 or 0.2 percent to close at $1,434.30 an ounce Monday on the Nymex.
The Capped Materials Index shed 2.07 percent, with Potash Corporation of Saskatchewan Inc.(POT.TO) shedding 1.05 percent.
Among gold stocks, Yamana Gold Inc. (YRI.TO) dropped 3.13 percent, while Detour Gold Corp. (DGC.TO) slipped 2.98 percent. Eldorado Gold Corp. (ELD.TO) shed 3.40 percent, while Barrick Gold Corp. (ABX.TO) surrendered 2.89 percent.
The Diversified Metals & Mining Index declined 1.83 percent, with First Quantum Minerals Ltd. (FM.TO) down 1.42 percent, while Lundin Mining Corp. (LUN.TO) fell 1.19 percent. Teck Resources (TCK.B.TO) dropped 2.71 percent.
Osisko Mining Corp. (OSK.TO) shed 4.04 percent after reporting first-quarter adjusted earnings of C$36.4 million or C$0.08 per share, compared with C$59.6 million or C$0.15 per share a year ago. Analysts estimated earnings of C$0.06 per share for the quarter.
The Energy Index shed 0.60 percent, with U.S. crude oil futures for June delivery dropping $0.87 or 0.9 percent to close at $95.17 a barrel Monday on the Nymex.
Among energy stocks, Suncor Energy Inc. (SU.TO) gained 0.03 percent, while Canadian Natural Resources Limited (CNQ.TO) slipped 1.00 percent. Encana Corp. (ECA.TO) surrendered 3.00 percent, while Canadian Oil Sands Limited (COS.TO) edged up 0.15 percent.
The Financial Index surrendered 0.24 percent, as Manulife Financial Corp. (MFC.TO) added 0.13 percent, Bank of Montreal (BMO.TO) dropped 0.48 percent, TD Bank Group (TD.TO) dropped 0.40 percent, and Royal Bank of Canada (RY.TO) slipped 0.50 percent. Bank of Nova Scotia (BNS.TO) dropped 0.14 percent.
The Information Technology Index gained 0.73 percent, with BlackBerry (BB.TO) up 2.10 percent.
The Capped Industrials Index declined 0.63 percent, with Bombardier Inc. (BBD.A.TO, BBD.B.TO) down 1.70 percent and Air Canada (AC.A.TO) plummeting 8.68 percent.
Onex Corp. (OCX.TO) shed 0.94 percent after reporting a first quarter net loss of $271 million, compared to a profit of $173 million last year. On a per Subordinate Voting Share basis, loss for the quarter was $2.71 versus a profit of $0.51 a year earlier.
TMX Group Ltd. (X.TO) lost 2.94 percent after reporting that its first-quarter income from operations declined to C$60.2 million from C$79.2 million in the prior year quarter. Net income attributable to TMX Group shareholders was C$37.8 million, compared to a loss of C$4.4 million a year ago. Earnings per share were C$0.70 in the quarter, compared to a loss of C$10.82 per share last year.
Enerplus Corp. (ERF.TO) jumped 4.48 percent after reporting a narrower first-quarter loss of C$5.24 million or C$0.03 per share compared to a loss of C$33.82 million or C$0.18 per share last year.
Auto parts maker Magna International Inc. (MG.TO) slipped 0.43 percent after reporting first-quarter net income of $369 million or $1.57 per share, from $343 million or $1.46 per share in the same quarter last year. Analysts expected the company to report earnings of $1.44 per share for the quarter.
Renewable energy and utility company Algonquin Power & Utilities Corp. (AQN.TO) slipped 1.93 after reporting a much improved first-quarter net earnings of C$19.2 million or C$0.10 per share, compared to C$2.3 million or C$0.02 per share for the year-ago quarter. Adjusted net earnings for the first quarter was C$17.8 million or C$0.09 per share, compared to C$5.5 million or C$0.04 per share in the prior year quarter. Analysts expected the company to earn C$0.10 per share for the quarter. The stock was up over 3 percent.
In economic news, Statistics Canada said the rate of unemployment in Canada remained unchanged after declining in the previous month. Unemployment rate remained unchanged at a seasonally adjusted 7.2 percent, belying economists' expectations for a decline to 7.0 percent.
In other economic news, retail sales in the U.S. unexpectedly showed a modest increase in April, a Commerce Department report showed Monday. Retail sales inched up by 0.1 percent in April following a revised 0.5 percent decrease in March. Economists expected sales to dip by 0.3 percent compared to the 0.4 percent drop originally reported for the previous month.
With a drop in retail inventories offsetting an increase in wholesale inventories, the Commerce Department released a report on Monday showing that U.S. business inventories unexpectedly came in unchanged in the month of March.
Separately, the Commerce Department said U.S. business inventories unexpectedly came in unchanged in March, with a drop in retail inventories offsetting an increase in wholesale inventories. Business inventories were virtually unchanged for the second consecutive month, while economists had expected inventories to increase by 0.3 percent. Retail inventories fell 0.5 percent in March after rising by 0.2 percent in February, while wholesale inventories rose 0.4 percent after falling by 0.3 percent in the previous month
China's industrial production increased 9.3 percent year-on-year in April, faster than the 8.9 percent rise in the previous month. However, the output growth was below forecast of 9.4 percent growth. In the first four months of the year, production was up 9.4 percent compared to the same period last year.
Retail sales in China increased 12.8 percent annually in April, as expected. This compares with the 12.6 percent rise recorded in March. In the January-April period, sales were up 12.5 percent compared to the same period of 2012.
Urban fixed asset investment in China increased 20.6 percent in the January-April period compared with forecast for 21 percent growth. In the first three months of the year, investment was up 20.9 percent.
China's GDP growth eased to 7.7 percent in the first quarter from the 7.9 percent expansion in the fourth quarter, which ended seven quarters of economic slowdown.
From the eurozone, Germany's exports grew 0.5 percent month-on-month in March, partially offsetting the 1.2 percent drop in February, the Federal Statistical Office said. The monthly rate of expansion were in line with economists' expectations. Imports grew 0.8 percent on a monthly basis, after declining 3.9 percent in the prior month. Nonetheless, the rate was below the consensus forecast of 1.5 percent.
Separately, the agency said German factory sales continued to decline in March, but at a slower pace compared to the previous month. Manufacturing turnover fell 1.8 percent year-on-year on a working day adjusted basis in March, following 3.2 percent decrease in February and a 2.6 percent fall in January.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.