The TSX dove in the mid-afternoon trade Thursday, following further declines in energy and mining stocks, which cancelled out marginal gains in health-care.
The S&P/TSX composite index dropped 65.07 points to close Thursday at 13,241.89
The Canadian dollar gained 0.28 cents at 75.41 cents U.S.
Gold and materials took the brunt of the downward impact, as Barrick Gold sank 30 cents, or 3.5%, to $8.19, while Agnico Eagle Mines faltered $1.08, or 3.2%, to $32.75.
Metals and mining stocks were off as well, as Silver Standard Resources moved lower 58 cents, or 6.7%, to $8.12, while Teck Resources slid 28 cents, or 4.4%, to $6.09.
Health-care issues scored the highest, as Essa Pharma gained 66 cents, or 7.9% to $9.01, while Concordia Healthcare triumphed $3.06, or 5.4%, to $60.00
Information technology also performed well, as Descartes Systems Group gained 91 cents, or 3.9%, to $24.55, while Kinaxis Corp. moved $2.03, or 4.9%, to $43.27.
Among industrials – yet another gainer – New Flyer Industrials grew 41 cents, or 2.1%, to $20.41. Meantime, Bombardier was the most actively traded stock, dipping 15 cents, or 9%, to $1.52, on 14.4 million shares.
ON BAYSTREET
The TSX Venture Exchange picked up 1.31 points to 525.89
All but three of the 13 TSX subgroups lower on the day, gold and materials each caving 3.3%, while the metals and mining sector doffed 1.9%.
The three gainers were health-care, up 2.9%, information technology, up 0.9%, while industrials crept up 0.02%.
ON WALLSTREET
U.S. stocks closed narrowly mixed Thursday, attempting to put a steady start to the fourth quarter, as investors weighed soft manufacturing data and looked ahead to Friday's jobs report.
The Dow Jones industrial average recovered much of its earlier losses on the day, but fell 12.69 points short of breakeven to 16,272.01, with Caterpillar leading decliners and Pfizer the greatest advancer.
The S&P 500 nosed ahead 3.78 points to 1,923.81. Materials gained 1% to lead the S&P higher.
The NASDAQ index inched up 6.92 points to 4,627.09. Apple closed off session lows, down 0.7%, after briefly falling 2.7%.
September auto sales came in at an 18.17 million, the highest run rate since July 2005, Autodata said. General Motors, Ford Motor, and the U.S. operations of Fiat Chrysler Automobiles reported a jump in September sales as cheap gasoline and ultra-low interest rates drove demand for sport utility vehicles and pickup trucks.
On the data front, September ISM manufacturing data fell to the lowest level since May 2013 at 50.2 from 51.1.
The monthly non-farm payrolls report is due Friday.
The number of announced layoffs by U.S.-based companies surged 43% in September from the previous month, driven by job cuts at Hewlett-Packard, global outplacement firm Challenger, Gray & Christmas reported Thursday.
Moreover, initial stateside jobless claims showed a slight increase to 277,000. The September U.S. Markit manufacturing PMI came in at 53.1.
August construction spending rose to its highest level since 2008, driven by residential projects.
Prices for 10-year U.S. Treasuries lost ground, raising yields back to Wednesday’s 2.04%. Treasury price and yields move in opposite directions.
Oil prices regressed 11 cents a barrel to $44.98 U.S.
Gold prices retreated 73 cents to $1,114.36 U.S. an ounce.
