Canadian Shares Ease from 5-Month High

The S&P/TSX Composite index was 0.4% lower to trade at the 20,300 mark on Monday, easing from the five-month high hit in the prior session as concerns of political unrest in China pressured Toronto’s heavyweight commodity-linked shares.

Oil and natural gas producers led the losses in the session, tracking the further downturn in fossil fuel prices with Gran Tierra, Cenovus, and Vermillion Energy tanking between 3.5%-4.5%.

In the meantime, banks were also in the red as investors refrained from making large bets ahead of multiple earnings results scheduled for this week.

On the other hand, tech shares sharply outperformed the broader index to add over 2% on average, outperforming their US counterparts.