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Investors made a brave bid to take Canada's main stock market back in to positive territory late Monday and with that extend strong gains made over the last couple of days last week when the index rose above the 12,000 level for the first time since early May.

While they ultimately failed - the TSX closed down around a dozen points - they did succeed in bringing the index back from the day lows around 12,040 hit after about an hour of trading on initial reaction to news that the European Central Bank had moved to quell talk about what it might do to contain the euro zone debt crisis, damping investor enthusiasm for risk.

Oil futures settled slightly lower Monday after a four-session climb of nearly 4% as the market weighed prospects for oil demand, talk of a U.S. Strategic Petroleum reserve release and news of a spike in output from Saudi Arabia, according to MarketWatch. September crude fell 4 cents to settle at US$95.97 a barrel on the New York Mercantile Exchange, off the day's low of $95.02.

Comex gold futures prices ended the U.S. day session modestly higher in choppy, two-sided trading Monday, Kitco reported.

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