Stocks on Canada’s largest index fell early Tuesday tracking global market sentiment, with financials and energy stocks leading the index lower.
The S&P/TSX Composite Index hesitated 25.29 points to open Tuesday at 15,384.49
The Canadian dollar inched up 0.08 cents to 74.27 cents U.S.
Fortis Inc.’s CEO said the company could beat its annual 5% growth target with new LNG and power transmission projects in the United States and Canada.
Fortis shares 24 cents to $45.67.
Japan's Sumitomo Metal Mining Co said it had agreed to take a 27.75-percent interest in a Canadian gold mining project from Toronto-based IAMGOLD for $195 million.
IAMGOLD shares rocketed 43 cents, or 7.1%, to $6.50.
BlackBerry has downplayed news that Toyota Motor Corp would adopt rival software for its future vehicle consoles, saying it was more focused on the faster-growing market for autonomous driving technology.
BlackBerry shares docked a dime to $14.95.
CIBC cut the price target on Asanko Gold to $2.85 from $3.85. Asanko shares took on a penny to $2.11.
CIBC raised the rating on Norbord to outperform from neutral. Norbord shares acquired a penny to $38.73.
CIBC raised the rating on Western Forest Products to outperform from neutral. Western Forest shares gained one cent to $2.17.
On the economic front, Western University’s IVEY School of Business reported Purchasing Manager's Index (seasonally-adjusted) for May stands at 53.8, indicating that purchases were less than the previous month. The number for April was 62.4, while the May 2016 figure was 49.4.
Any reading over 50 denotes expansion among purchasing managers’ expenditures; anything below 50 indicates contraction.
ON BAYSTREET
The TSX Venture Exchange gained 2.27 points to 799.48
Seven of the 12 TSX subgroups were negative, as finance and consumer discretionary stocks each gave back 0.6%, while industrials lost 0.4%.
The five gainers were led by gold, surging 2.3%, materials, up 1.3%, and health-care, gaining 0.4%.
ON WALLSTREET
U.S. equities opened lower on Tuesday as Wall Street took profits ahead of key events slated for later this week.
The Dow Jones Industrials fell 29.68 points to 21,154.36, with Goldman Sachs contributing the most losses.
The S&P 500 dipped 3.89 points to 2,432.21, with financials lagging.
The NASDAQ dropped 2.73 points to 6,292.95.
Among companies reporting earnings today, Ambarella, Dave & Buster's and Duluth are all due to report after the market close.
Former FBI Director James Comey is slated to testify Thursday in front of the Senate intelligence committee, marking his first public comment since being fired by President Donald Trump.
Comey will certainly be asked about his reported conversations with Trump and any efforts the president made to interfere with a probe on former national security advisor Michael Flynn.
Investors also braced themselves for a general election in the United Kingdom set for Thursday. While a vast majority of observers still expect Theresa May to emerge victorious on Thursday, a Survation poll published last weekend placed the prime minister's ruling right-wing Conservative Party ahead by just a single percentage point.
Prices for the benchmark 10-year Treasury note hiked, lowering yields to 2.15% from Monday’s 2.18%. Treasury prices and yields move in opposite directions.
Oil prices slid 25 cents to $47.22 U.S. a barrel
Gold prices gained $13.90 at $1,296.60 U.S. an ounce.
