Canada’s main stock index fell Monday as commodity-heavy market futures followed lower precious metal prices.
S&P/TSX June futures were down 0.1% at 7:26 a.m. ET.
Gold and silver contracts declined after U.S. employment data revealed a solid job market, increasing the likelihood of a May Fed rate rise.
Oil prices climbed due to supply constraints and investor concerns about global growth.
Teck Resources Ltd. (TECKb.TO) recommended shareholders vote for its restructuring plan instead of Glencore’s (GLEN.L) proposal, calling it “not actionable and negative” for shareholders.
According to a weekend article, entrepreneur Pierre Lassonde sought to buy a blocking position in Elk Valley Resources, Teck’s steel-making coal affiliate, to be broken off.
