Nov 3 (Reuters) - Canada's main stock index slipped on
Monday as investors parsed through local economic data, while an
uptick in gold and technology stocks kept losses in check.
At 10:08 a.m. ET, Toronto's S&P/TSX composite index
was down 0.17% at 30,273.68 points.
Canada's manufacturing sector downturn eased in October as
output and new orders, which have been held back by trade
uncertainty, declined at a slower pace, Manufacturing PMI data
showed.
Fresh data on employment is due later in the week.
Over in the U.S., manufacturing contracted for an eighth
straight month in October as new orders remained subdued, PMI
data showed. The data comes as markets navigate the absence of
their usual economic benchmarks amid a government shutdown.
Meanwhile, the Federal Reserve's Austan Goolsbee said he was
"uneasy with front-loading rate cuts," in an interview with
Yahoo Finance.
Back home, gold miners rose to the top among
sectors. Tech stocks also rose 0.6%, mainly driven by
gains in Bitfarms ( BITF ) jumping nearly 12%, buoyed by
broader gains in tech stocks on Wall Street.
However, overall market gains were offset by a fall in
copper miners.
Canadian stocks closed October with modest gains, achieving
a sixth straight monthly advance, the longest streak since 2021.
"October has been a very strong month for the market.. it
does suggest a level of calm, but you do have to be careful of
complacency," said Kate Leaman, chief market analyst at
AvaTrade.
Canadian Prime Minister Mark Carney said on Saturday he
apologized to U.S. President Donald Trump over an anti-tariff
political ad, and urged Ontario Premier Doug Ford not to run it,
amid U.S.-Canada tension. The ad prompted Trump to announce
higher tariffs on Canadian goods and to halt trade talks with
Ottawa.
Teck Resources ( TECK ) lost 1.1% after activist fund
Palliser Capital intensified pressure on Rio Tinto to
mount a "now or never" counterbid for the company,
according to a letter seen by Reuters.
Air Canada ( ACDVF ) gained 1.6% ahead of its quarterly
results.