TSX Ends Modestly Lower

(RTTNews) - The Canadian stock market ended modestly lower on Monday, after staying weak right through the session as worries about global economy and uncertainty about U.S.-China trade deal rendered the mood cautious.

Also, investors were looking for direction after the market consistently hit new highs in recent sessions.

The benchmark S&P/TSX Composite Index, which moved in a tight range between 16,846.40 and 16,892.50, settled with a loss of 32.49 points, or 0.19%, at 16,867.20.

Telecommunications, information technology and industrials shares were among the notable losers, while shares from materials section found support.

Energy, consumer staples and financial shares turned in a mixed performance.

First Quantum Minerals (FM.TO) declined nearly 10% after the company denied takever talks.

Osisko Gold Royalties (OR.TO) also ended nearly 10% down. Osisko announced that it has entered into a definitive agreement with Barkerville Gold Mines (BGM:TSXV), agreeing to acquire all of the issued and outstanding common shares of Barkerville that it does not currently own.

Kinross Gold Corp (K.TO), B2Gold Corp (BTO.TO), Yamana Gold (YRI.TO), IamGold Corp (IMG.TO), Kirkland Lake Gold (KL.TO), Methanex Corp (MX.TO), MAG Silver (MAG.TO), Pan American Silver Corp (PAAS.TO), Agnico Eagle Mines (AEM.TO) and New Gold (NGD.TO) moved up sharply.

Encana Corporation (ECA.TO), Canada Goose Holdings Inc. (GOOS.TO), Bombardier Inc. (BBD.B.TO), First National Financial Corporation (FN.TO), Olympia Financial Group (OLY.TO) and Constellation Software (CSU.TO) were also among the prominent gainers in Monday's session.

In economic news, data released by Statistics Canada showed wholesale sales rose for a second consecutive month in July, surging up 1.7% to $65.4 billion. This is the sixth increase in the first seven months of 2019.

U.S. stocks ended nearly flat after a lackluster session due to a lack of major U.S. economic news. Weak euro area data weighed as well.

European markets ended weak, after survey data from IHS Markit showed the euro area private sector was close to stalling at the end of the third quarter. The flash composite output index unexpectedly fell to a 75-month low of 50.4 in September from 51.9 in August.

Germany's private sector contracted the most since late 2012 as a downturn in manufacturing deepened and service sector growth lost momentum.

Asian markets ended mixed.

In commodities, West Texas Intermediate Crude oil futures for November ended up $0.55, or about 1%, at $58.64 a barrel.

Gold futures for December ended up $16.40, or about 1.1%, at $1,531.50 an ounce, the best close since September 4.

Silver futures for December ended up $0.862, at $18.711 an ounce, while Copper futures for December settled at $2.6115 per pound, gaining $0.0050 for the session.