Market Turns Cautious Ahead Of US Debate -- Canadian Commentary

(RTTNews) - Canadian stocks were lower Monday, following U.S. equities to the downside amid banking jitters and anxiety over the American election.

Tonight's presidential debate between Donald Trump and Hillary Clinton could put upstart Trump in the driver's seat, spooking markets everywhere.

The S&P/TSX Composite Index dropped 78.47 points, or 0.53 percent, to 14,619.46, with losses widespread in various sectors.

Health care stocks fell 1.8 percent, while weakness emerged among financials.

Investors are concerned about Deutsche Bank's potentially hefty U.S. fine related to mortgage-securities probes.

Energy stocks were lower even as crude oil prices rose on talk between a deal to curb supplies between OPEC and Russia.

In corporate news from Canada, Magna International Inc. (MG.TO, MGA) will acquire the BÖCO Group of Companies, an automotive supplier of latches, hinges and strikers.

Magna shares were down fractionally.

TransCanada Corp.(TRP, TRP.TO) said its Columbia Pipeline Group, Inc. has offered to acquire, for cash, all of the 53.84 million outstanding common units of the master limited partnership, Columbia Pipeline Partners.

TRP shares fell one percent.

Kinross (K.TO) has sold a portion of its Lundin Gold shares. Kinross was slightly lower, while Lundin lost 2.3 percent.