Canadian stocks were lower early Monday - following a sell-off in European markets - as crude oil prices fell and U.S. investors took a holiday. The Toronto Stock Exchange’s benchmark, the resources-heavy S&P/TSX composite index, was down 46.96 points, or 0.553 per cent, to 8,873.44 - retrenching after modest gains on Friday. Oil declined $1.21 US to $35.30 US a barrel after a ceasefire between Israel and Hamas in Gaza eased concerns over crude supplies. The Canadian dollar fell to 79.69 cents US, down from 80.13 cents US at Friday’s close. U.S. markets were closed on Monday for the Martin Luther King Day holiday. Overseas markets were mixed On Monday. London’s FTSE 100 index was down 21.49 points, or 0.64 per cent, to 4,125.37 at midday. Frankfurt’s DAX was down 23.84 points, or 0.53 per cent, to 4,342.33 and the Paris CAC lost 11.66 points, or 0.39 per cent, to 3,005.09. In Asia, Tokyo’s Nikkei stock average closed up 26.70 points, or 0.32 per cent, to 8,256.85 and Hong Kong’s Hang Seng index finished up 84.48 points, or 0.64 per cent, to 13,339.99. On Friday, the S&P/TSX composite closed up 40.79 points, or 0.46 per cent, to 8920.40. The Dow rose 68.73 points, a 0.84 per cent change, to 8,281.22 and the Nasdaq ended up 17.49 points, or 1.16 per cent, to 1,529.33.

Source