TORONTO _ The Toronto stock market was lower, as investors wait for a report from China that might show continued slow growth in the world's second-largest economy.
The S&P/TSX composite index dropped 26.53 points to 15,238.82, after closing down 200 points on Friday. The metals and mining sector and gold were the heaviest weights on the Toronto exchange.
The Canadian dollar was down 0.48 of a cent to 90.87 cents US, against a strengthening U.S. dollar.
On Tuesday, the purchasing managers index from China will be released, which is anticipated to show renewed weakness. If the index falls near or below 50, it would indicate that China's manufacturing businesses are hardly growing. China, along with the U.S., usually set the pace for global growth.
U.S. indexes were in negative territory with the Dow Jones industrials down 25.64 points to 17,254.10. The Nasdaq dipped 20.81 points at 4,558.98 and the S&P 500 index lost 6.38 points to 2,004.02.
In corporate news, German electronics and engineering company Siemens AG has reached a deal to acquire oilfield equipment maker Dresser-Rand for $7.6 billion. Under the deal, Siemens will pay $83 per common share of Dresser-Rand Group Inc., $3.09 more than the company's closing share price on Friday.