Stocks in Canada’s largest centre were flat on Wednesday as a modest bounce in energy stocks and a gain in Rogers Communication shares were weighed down by gold miners.
The S&P/TSX Composite Index had dropped 11.16 points to greet noon at 15,611.41
The Canadian dollar slipped 0.44 cents at 74.28 cents U.S.
Health-care stocks led gainers, as marijuana distributor Canopy Growth Corp. hurtled 52 cents, or 5.4%, to $10.19, while rival Aphria Inc. leaped 35 cents, or 5.3%, to $7.02.
Canadian Natural Resources was among the most influential gainer, rising 1.2% to $44.72, as was Suncor Energy, which advanced 0.5% to $41.19.
Parkland Fuel also helped the overall energy group, jumping 6.6% to $30.67 following news that it bought Chevron Corp's Canadian gasoline stations and British Columbia refinery for $1.46 billion
Barrick Gold was the biggest drag on the index, falling 1.6% to $25.94. Shanghai-listed Shandong Tyan Home said on Wednesday its negotiations with Barrick to buy a 50% stake of the Canadian operator's Kalgoorlie mine have ended without a deal.
Industrials rose, with Canadian National Railway hiking 0.6% to $98.98.
As for Rogers, its shares rose 1.1% to $62.08 after the country's largest wireless company by market share reported a sharp rise in first-quarter profit and higher revenue after markets closed on Tuesday.
ON BAYSTREET
The TSX Venture Exchange drooped 0.63 points to 824.51.
Seven of the 12 TSX subgroups were higher by noon hour, with health-care shooting 1.5% higher, consumer discretionary stocks up 0.7%, and information technology advancing 0.5%.
The five laggards were weighed most by gold, down 2%, materials sliding 1.3%, and consumer staples slipping 0.7%.
ON WALLSTREET
Equities south of the border traded mixed on Wednesday, with IBM sending the Dow Jones industrial average lower and Morgan Stanley leading financials after posting quarterly results.
The Dow lost 73.31 points higher to 20,449.97, with IBM shaving off about 70 points from the 30-stock index. IBM posted mixed quarterly results as earnings beat but sales fell for the 20th straight quarter on a year-over-year basis. The stock fell more than 4%.
The S&P 500 maintained gains of 1.9 points to 2,344.09, with financials leading advancers after Morgan Stanley posted a strong first-quarter as its fixed-income trading revenue doubled year over year.
The investment bank's results easily topped Wall Street expectations, in stark contrast to Dow component Goldman Sachs, which shocked investors with disappointing earnings and revenue
The NASDAQ Composite moved higher 30.94 points to 5,880.41.
This earnings season, one expert opined that 77% of the S&P 500 companies that had already reported topped Wall Street estimates and 58% outperformed sales expectations.
American Express, eBay, Qualcomm and CSX are among the companies scheduled to report after the bell Wednesday.
Investors also kept an eye on France, as the country's presidential election drew closer. Four candidates are within striking distance of the presidency, including far-leftist Jean-Luc Melenchon and conservative Marine Le Pen.
France’s CAC 40 index posted its worst one-day performance since Sept. 26 on Tuesday as jitters over the election led investors to sell ahead of the contest.
Prices for the benchmark 10-year Treasury note were lower, lifting yields to 2.22% from Tuesday’s 2.18%. Treasury prices and yields move in opposite directions.
Oil prices doffed 89 cents at $51.52 U.S. a barrel
Gold prices sank $13.40 at $1,280.70 U.S. an ounce.
