Equities in Canada’s largest centre were slightly lower on Tuesday as weakness in the mining and industrial sectors offset a rise in energy stocks supported by higher oil prices.
The S&P/TSX Composite Index fell 25 points to begin Wednesday at 15,573.57
The Canadian dollar was unchanged at 74.72 cents U.S.
Health-care shares seemed to have the worst time of it in the first hour, as Canopy Growth Corporation gave back 24 cents, or 2.2%, to $10.68
TransCanada Corp said its chief operating officer, Alex Pourbaix, is retiring from the company after 23 years in May.
TransCanada shares swooned 62 cents, or 1%, to $61.70.
Barclays starts coverage on Caribbean Utilities with underweight rating, and $13 price target. Caribbean shares lost 15 cents, or 1.1%, to $13.45.
Barclays reinstated coverage on Fortis Inc. with an overweight rating, and a $48.00 price target. Fortis shares inched up seven cents to $44.17.
CIBC raised the price target on Kirkland Lake Gold to $11.00 from $10.25. Kirkland Lake shares rocketed 23 cents, or 2.4%, to $9.68
ON BAYSTREET
The TSX Venture Exchange subtracted 1.76 points to open trading Wednesday at 802.36
All but three of the 12 TSX subgroups were positive at the outset, with health-care fading 0.7%, real-estate receding 0.5%, and telecoms off 0.4%.
The three laggards were energy, off 0.2%, financials and utilities trailing 0.01% each.
ON WALLSTREET
U.S. stocks traded mixed Wednesday as investors digested the start of the United Kingdom's divorce from the European Union.
The Dow Jones Industrials lost 40.41 points to kick off the session at 20,661.09, after Tuesday’s 150-point surge. UnitedHealth took the worst bruises soon after the opening bell.
The S&P 500 dipped 1.21 points to 2,357.36, with utilities lagging.
The NASDAQ Composite gathered 10.11 points to 5,885.25
In economic news, weekly mortgage applications held flat. Pending home sales data are due this morning.
Britain's ambassador to the EU, Tim Barrow, handed the official letter triggering Article 50 to European Council President Donald Tusk. This commences the country's two-year exit process from the trading bloc.
Prices for the benchmark 10-year Treasury note gained some ground, lowering yields to 2.4% from Tuesday’s 2.42%. Treasury prices and yields move in opposite directions.
Oil prices strengthened 20 cents to $48.57 U.S. a barrel
Gold prices sank $2.60 at $1,253.00 U.S. an ounce.
