Equities in Canada’s largest market turned south Tuesday, as negative prices for oil and health-care stocks overrode advances in gold stocks.
The S&P/TSX Composite Index sagged 62.32 points to close Tuesday at 15,622.57
The Canadian dollar slipped 0.33 cents at 74.7 cents U.S.
Energy stocks took a bit of a pasting, as Crescent Point Energy docked 24 cents, or 1.7%, to $14.04, while Cenovus Energy slid 19 cents, or 1.3%, to $14.31.
Health-care stocks were also the worse for wear, mostly because Aphria Inc. fell 17 cents, or 2.5%, to $6.67, and Valeant Pharmaceuticals doffed 65 cents, or 5.1%, to $11.99.
Financial stocks also suffered, as National Bank of Canada fell 55 cents, or 1%, to $54.49, and Scotiabank retreated 53 cents to $76.61.
Gold stocks provided one of the few beacons of hope Tuesday, as Kinross Gold moved up two cents to $5.15, and Goldcorp gathered nine cents to $20.56.
In the economic docket, Statistics Canada reported that foreign investment in this country reached a record high $38.8 billion worth of securities in February, led by the issuing of new Canadian shares to non-resident investors.
At the same time, Canadian investors acquired $6.3 billion of foreign securities, mainly U.S. instruments.
Elsewhere, the Canadian Real Estate Association reported re-sales of Canadian homes rose 1.1% in March from February and prices were up 18.6% from a year earlier as strong demand in Toronto offset cooling elsewhere.
ON BAYSTREET
The TSX Venture Exchange retreated 4.56 points to 825.14.
Seven of the 12 TSX subgroups were in the red on the day, with energy down 0.9%, health-care off 0.8%, materials off 0.6%, and financials poorer 0.5%.
The five gainers were led by real-estate and gold, each up 0.6%, while information technology struggled up 0.1%
ON WALLSTREET
U.S. equities fell on Tuesday after Goldman Sachs shocked Wall Street by missing estimates. Investors also remained vigilant amid U.S.-North Korea tensions and the nearing of the French presidential election.
The Dow Jones Industrials tumbled 113.64 points – off its lows of the day -- to 20,523.28, with Goldman shaving off 73 points and Johnson & Johnson taking out 26 points.
The S&P 500 lost 6.28 points to 2,342.19, with health-care leading eight sectors lower and consumer staples the biggest riser.
The NASDAQ Composite retreated 7.32 points to 5,849.47.
Goldman Sachs reported weaker-than-expected first-quarter results across the board, with trading revenue disappointing analysts.
Last quarter marked the first time since 2015 that Goldman's earnings per share missed analysts' expectations and the first time since the first quarter of last year that sales came below estimates.
Bank of America, meanwhile, reported strong first-quarter results with almost every single metric meeting or topping analyst expectations.
Johnson & Johnson also reported mixed quarterly results which sent its shares dropping more than 3%. Netflix posted better-than-expected earnings, but its guidance fell short of estimates.
In economic news, housing starts fell 6.8% last month, more than the expected 3.9% decline. Industrial production rose 0.5% last month, in line with expectations.
Investors were still cautious over U.S.-North Korea tensions. Vice President Mike Pence reassured Japan of American commitment to reining in North Korea's nuclear and missile ambitions on Tuesday, after warning that U.S. strikes in Syria and Afghanistan showed the strength of its resolve.
Pence arrived in Tokyo from South Korea, where he assured leaders of an "iron-clad" alliance with the United States in the face of the reclusive North, which has conducted a series of missile and nuclear tests in defiance of U.N. sanctions.
Investors also kept an eye on France, as campaigning ramped up ahead of the first round of the presidential election. Left-wing candidate Jean-Luc Melenchon's surge in polls added to investors' worries as it becomes unclear who will win the contest.
Prices for the benchmark 10-year Treasury note were sharply higher, lowering yields to 2.18% from Monday’s 2.25%. Treasury prices and yields move in opposite directions.
Oil prices faded five cents at $52.60 U.S. a barrel
Gold prices regained 30 cents at $1,292.20 U.S. an ounce.
