Canadian shares moved into negative territory on Monday, after reports of existing-home sales disappointed and after net foreign inflow came in much better than projected. Toronto’s benchmark stock index inched 3 points lower, or 0.02%, pulled down by a the 1.4% drop in the metals and mining sector and the 0.5% decline in technology companies. On the economic front, existing-home sales in Canada dropped by 1.3% for the month of June, while prices declined by 0.4% for the period. At the same time net foreign purchases of Canadian securities increased to $26.1 billion in May, mostly in the form of sovereign debt instruments, beating the analysts’s projections of $13.51 billions and marking the largest net inflow on record. Inflows the previous month were revised slightly on the downside – from $10.20 billion to $10.16 billion.
