Canada's main stock index fell on Monday as energy companies retreated along with lower oil prices, while mining shares bucked a broadly weaker trend on higher metal prices.
At 10:21 am ET (1521 GMT), the Toronto Stock Exchange's S&P/TSX composite index was down 49.07 points, or 0.32 percent, at 15,498.81. Nine of the index's 10 main groups were in negative territory, and decliners outnumbered gainers by 3-to-2 overall.
The materials group, which includes precious and base metals miners and fertilizer companies, added 0.8 percent, as copper rose in part on hopes that US President Donald Trump's incoming administration would make good on a pledge to boost infrastructure spending in the world's largest economy.
In his inauguration speech on Friday, Trump said his administration would "build new roads, and highways, and bridges, and airports, and tunnels, and railways all across our wonderful nation."
Teck Resources Ltd advanced 2.2 percent to C$32.11 and Hudbay Minerals Inc rose 2.9 percent to C$9.47.
Uncertainty about Trump's economic policies also boosted gold to its highest in two months, and Canada-listed gold miners rose. Barrick Gold Corp advanced 1.4 percent to C$23.13.
The energy group retreated 1.5 percent, as signs of a strong recovery in US drilling activity outweighed news that Opec and non-Opec producers were on track to meet output reduction goals set in December. The most influential weights on the index included Canadian Natural Resources Ltd, which fell 1.6 percent to C$40.30, and Suncor Energy Inc, down 1 percent to C$41.85. Cenovus Energy Inc declined 2.5 percent to C$18.97. Peyto Exploration & Development fell 5.4 percent to C$28.31 after Barclays cut its target price and downgraded its view on the stock.
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