The funk continued for equities in Canada’s largest centre Wednesday, as information technology stocks were punished hard, particularly DH Corporation
The S&P/TSX Composite shed 63.07 points to end Wednesday at 14,807.56
The Canadian dollar gave back 0.15 cents to 74.75 cents U.S.
DH plummeted $12.45 a share, or 43.4%, to $16.25, as quarterly earnings severely disappointed, while Helius Medical Technologies suffered 15 cents, or 7.1%, to $1.95.
Gold stocks saw their value dulled, as Kinross Gold slid 15 cents, or 2.9%, to $5.06, while Goldcorp moved lower 33 cents, or 1.6%, to $20.50.
Industrials were also battered, as Canadian National Railway reversed $3.37, or 3.8%, to $84.30, while rival Canadian Pacific Railway lost $4.20 of its strength per share, or 2.1%, to $192.17.
Utilities proved one of the few bright spots, as Fortis Inc. hiked 52 cents, or 1.2%, to $43.89.
Consumer staples were also in the green, as Loblaw Corporation was 72 cents, or 1.1%, higher, to $66.87, while Metro gained 35 cents to $42.08.
A planned EU-Canada summit to sign a free trade deal was still possible on Thursday, European Council President Donald Tusk said on Wednesday, as Belgian politicians entered a second day of talks on the future of the pact.
ON BAYSTREET
The TSX Venture Exchange plummeted 10.29 points, or 1.3%, to close Wednesday at 775.39
Seven of the 12 TSX subgroups were lower on the day, as information technology clicked 2.9% lower, gold dulled 2.1%, and industrials gave up 1.5%
The five gainers were led by utilities, picking up 0.7%, while consumer staples and financials each gained 0.4%.
ON WALLSTREET
Stocks south of the border closed mostly lower on Wednesday as earnings season continued, while solid economic data helped financials and oil extended its losing streak despite bullish supply data.
The Dow Jones Industrials finished ahead 30.06 points to 18,199.33, with Boeing leading advancers and Apple the top decliner.
The S&P 500 sagged 3.73 at 2,139.43, with real estate leading seven sectors lower and financials the top advancer.
Stocks have held in a very tight range recently, with the S&P having gone 24 straight sessions without posting a 1% move on a closing basis. The index has also moved just 1.2% over the past three months.
The NASDAQ composite index dropped 33.13 points to 5,250.27, as Apple shed about 2.3%
Apple posted a better-than-expected quarterly profit Tuesday after the close, but fell just shy of expectations on sales. The company's cash hoard also hit a record of $238 billion U.S.
Boeing and Coca-Cola, two other Dow components, also posted results Wednesday that beat estimates on both the top and bottom line.
Other firms that reported Wednesday include Six Flags, Mondelez and Biogen.
In economic news, the October services Purchasing Managers Index jumped to 54.8 from 52.3, while new home sales rose 3.1% in September. Mortgage applications fell 4.1% last week, despite lower mortgage rates.
Prices for the 10-year Treasury gained, lowering yields 1.8% from Tuesday’s 1.76%. Treasury prices and yields move in opposite directions.
Oil prices sank 81 cents to $49.15 U.S. a barrel
Gold prices stayed negative $6.40 to $1,267.20 U.S. an ounce.
