Markets in Toronto were adversely affected by losses in information technology issues Tuesday, while energy stocks also showed some frailty.
The S&P/TSX Composite Index came off its lows of the day, but still fell 82.88 points to close Tuesday at 15,569.20
The Canadian dollar dipped 0.16 cents at 72.84 cents U.S.
Open Text stepped backward $2.53, or 5.3%, to $45.13 after the business software maker reported a lower-than-expected quarterly profit after the bell on Monday as it works to integrate Dell-EMC's enterprise content division, a purchase it completed in January.
Constellation Software wilted $6.37 to $684.00.
Among energy concerns, Canadian Natural Resources Ltd fell 69 cents, or 1.6% to $42.35 and Suncor Energy Inc declined 13 cents to $43.11. Pipeline companies also fell, with Enbridge down 37 cents to $56.61 and TransCanada Corp off 65 cents, or 1%, to $63.83.
The financials group fell, with Royal Bank of Canada down $1.24, or 1.3% at $92.94. Toronto-Dominion Bank fell 51 cents to $63.62.
Home Capital Group spiked, however, $2.03, or 29.7%, to $8.86 after the alternative lender announced a plan to sell up to $1.5 billion of its mortgage book.
In the health-care field, Valeant Pharmaceuticals International was up $3.22, or 24.1%, to $16.58, after reporting its first quarterly profit in six quarters and raising its earnings outlook
Canopy Growth Corporation slid 39 cents, or 4.5%, to $8.30.
Consumer discretionary concerns eked out gains, among them, Ritchie Bros. Auctioneers, which galloped $1.31, or 3.2%, to $42.91.
In the economic docket, Statistics Canada reported that the value of building permits issued by Canadian municipalities fell 5.8% to $7.0 billion in March, marking a second consecutive monthly decrease.
The agency adds that all provinces and territories, except Ontario and Quebec, registered decreases in the total value of building permits in March.
ON BAYSTREET
The TSX Venture Exchange stumbled 5.94 points to 774.14
All but two of the 12 TSX subgroups were negative on the day, as information technology backtracked 1.5%, energy, which faded 1.4%, and financials, off 0.9%
The lone gainers were in health-care, which hiked 5.6%, and consumer discretionary stocks, up 0.2%.
ON WALLSTREET
The Dow Jones industrial average and the S&P 500 hit session lows Tuesday after the North Korean ambassador to the U.K. said the country will proceed with its sixth nuclear test.
The Dow tailed off 36.5 points to 20.975.78, with Chevron leading decliners and Nike outperforming.
The S&P 500 bowed 2.46 points to 2,396.92, with utilities leading seven sectors lower and consumer discretionary leading advancers.
The NASDAQ improved 17.93 points on Monday’s all-time high to 6,120.59
Equities had traded mostly flat before Sky News' interview with the North Korean ambassador.
Leading consumer stocks were shares of Marriott, which rose more than 6% after posting better-than-expected quarterly results. Equities have performed strongly recently as most companies reported better-than-expected quarterly results.
Sources said 75% of the S&P 500 components that had reported as of Friday had topped bottom-line expectations, while 66% had beaten sales estimates. In all, 83% of S&P 500 companies had reported as of Friday.
The latest company to report was Disney, $1.50 a share, besting expectations of $1.41.
Other companies set to report Tuesday include Priceline, and News Corp.
In economic news, the National Federation of Independent Business survey showed small-business confidence slipped in April.
Wholesale inventories for March rose 0.2%; economists expected a decline of 0.1%. The JOLTS (job openings and labour turnover survey) showed job openings totaled 5.7 million in March.
Prices for the benchmark 10-year Treasury note fell back, raising yields to 2.4% from Monday’s 2.38%. Treasury prices and yields move in opposite directions.
Oil prices deducted 40 cents at $46.03 U.S. a barrel
Gold prices subtracted $7.10 at $1,220 U.S. an ounce.
