Canada's main index was moving higher Monday afternoon as traders took in data showing an slower that expected Canadian economy and confirmation that Spain is back in recession.
The S&P/TSX composite index was up 20.55 points to 12,258.30.
Statistics Canada reported that gross domestic product declined 0.2 per cent during February. Economists had expected a 0.2 per cent rise during the month. The Canadian dollar was down 0.62 of a cent to 101.32 cents US.
Elsewhere -- official data confirmed Spain is back in its second recession in three years as its economy shrank by 0.3 per cent in the first quarter following a similar decline in the previous three-month period.
The contraction in Spain is dimming hopes that the government will be able to cut its budget deficit as predicted, which could in turn spell higher borrowing rates as investors lose confidence.
In corporate news -- Goldcorp Inc. has suspended construction of the El Morro gold-copper mine in Chile after the country's Supreme Court suspended the $3.9-billion project's environmental permit on Friday. The Supreme Court found Chile's environmental permitting authority must correct deficiencies identified by the Antofogasta Court of Appeals. Goldcorp shares lost 62 cents to $37.76.
The Canadian dollar, meanwhile, was at trading C$0.9879 versus the U.S. dollar, or $1.0122, down from Friday's finish at C$0.9810.
The TSX Venture Exchange gained 1.32 points to 1,414.08.
Six of the 14 Toronto subgroups were in positive territory, led by energy, up 1.21%, tech climbed 0.66%, and real-estate stocks gained 0.15%.
On the downside -- mining was off .95%, industrials .53% and gold shed .36%.
U.S. stocks fell Monday, with the benchmark indexes positioned for monthly declines, after a soft reading on business activity in the Chicago area sparked concern about the economy.
The Dow Jones Industrial Average was off 32 points, or 0.2%, at 13,196. The S&P 500 was down 7 points, or 0.5%, at 1397, and the Nasdaq was lower by 21 points, or 0.7%, at 3049.
P&G shares were down 1.4% after the company was downgraded to perform from outperform at Oppenheimer & Co., which expressed frustration with the consumer products giant after last week's quarterly report and lowered outlook.
Before the bell, the Commerce Department posted slightly better-than-expected personal income data for March along with a slight miss on personal spending for the period. Income rose 0.4%, compared with the 0.3% rise expected by economists surveyed by Thomson Reuters.
In corporate news, Microsoft has agreed to make a $300 million investment for a 17.6% stake in a new Barnes & Noble subsidiary that will bring together the bookseller's digital and college businesses. Microsoft shares were trading sideways and Barnes & Noble shares were surging more than 60 %.
Oil for June delivery fell 61 cents to $104.32 a barrel.
Gold futures for June delivery fell $7.60 to $1,658.40 an ounce.
The price on the benchmark 10-year U.S. Treasury rose Monday, pushing the yield down to 1.91% from 1.93% late Friday.