Equity markets in Toronto were barely lower midday Tuesday as gains in resources stocks were offset by falls among financial and telecom names.
The S&P/TSX Composite had slid 14.5 points to greet noon at 14,908.51,
The Canadian dollar remained negative 0.3 cents to 75.01 cents U.S.
European Parliament President Martin Schulz told German radio on Tuesday that he did not expect a free trade deal between the European Union and Canada to be signed this week.
Bank of Canada Governor Stephen Poloz said Monday a further easing from the central bank would bring it closer to unconventional monetary policy and the decision on whether to cut rates again is not one to take lightly.
Auto parts whiz Magna International declined 1% to $54.27. Telecom companies also weighed, with Rogers Communications Inc down 0.9% to $53.38 and BCE Inc off 0.4% to $60.90.
Rogers last week changed chief executives.
The heavyweight financials group slipped, with insurer Manulife Financial Corp down 0.6% at $19.51.
The most influential gainers on the index included Suncor Energy, which rose 0.4% to $39.49, and Teck Resources, which advanced 3.4% to $28.40.
Teck's stock has recovered from a low of $3.65 hit in January on a mix of cost-cutting and higher prices for its commodities.
Copper prices advanced 2.2% on the day to $4,738.50 U.S. a tonne.
Shares in BlackBerry rose 0.9% to $9.73 after the technology company launched its third Android-based phone, opting to price it cheaper than competing products.
West Fraser Timber Co advanced 8.9% to $42.82 after the lumber company posted strong earnings after the bell on Monday.
Precision Drilling Corp advanced 4.7% to $6.69 after several analysts upgraded their views on the stock.
ON BAYSTREET
The TSX Venture Exchange faded 1.53 points to 784.61
All but three of the 12 TSX subgroups were lower midday, with information technology descending 1.2%, consumer discretionary issues falling 0.9%, and telecoms skidding 0.6%.
The three gainers were gold, up 2.3%, materials, up 1.8%, and health-care, inching up 0.3%.
ON WALLSTREET
U.S. stocks fell slightly on Tuesday as one of the busiest days of the earnings season got underway.
The Dow Jones Industrials dumped 58.21 points, after a positive start, to break for lunch at 18,164.82, with Procter & Gamble contributing the most gains, but 3M plummeting.
The S&P 500 slipped 7.88 points to 2,143.45, with materials leading decliners. Even so, the S&P's energy sector rose, led higher by
Baker Hughes shares. Baker Hughes posted better-than-expected quarterly results, sending its stock nearly 4% higher.
The NASDAQ composite index dropped 26.44 points to 5,283.40
More than 90 companies were scheduled to post quarterly results on Tuesday. Dow components 3M, Caterpillar and DuPont reported earnings before the bell.
Caterpillar and 3M posted mixed results, as both beat estimates on the bottom line, while missing on revenues. Caterpillar also lowered its 2016 earnings per share guidance.
Under Armour shares fell more than 10% despite posting better-than-expected results. DuPont shares fell slightly after briefly trading higher.
Tech giant Apple is scheduled to report quarterly results Tuesday after the bell.
In economic news, consumer confidence hit 98.6, with economists polled by Reuters expecting confidence to hit 101.5. Meanwhile, U.S. home prices rose slightly in August from July, with the S&P CoreLogic Case-Shiller 20-City Composite index gaining 5.1% year over year.
Prices for the 10-year Treasury gained slightly, lowering yields 1.75% from Monday’s 1.77%. Treasury prices and yields move in opposite directions.
Oil prices sank 57 cents to $49.95 U.S. a barrel
Gold prices climbed $9.80 to $1,273.50 U.S. an ounce.
