CORRECTS ERROR IN 3RD GRAF RE: TSX
Stocks in Canada’s largest market retreated on Tuesday, after posting a four-month high the day before, as a drop in commodity prices weighed on the shares of energy and mining companies.
The S&P/TSX Composite Index dropped 22.34 points to open Tuesday at 15,493.89
The Canadian dollar dropped 0.22 cents to 80.78 cents U.S
Vancouver-based Lucara Diamond says a tennis ball-sized rough diamond it unearthed nearly two years ago has been sold for $53 million U.S.
Lucara shares vaulted 11 cents, or 4.8%, to $2.41.
Canaccord Genuity raised the target price on Cenovus Energy to $15.00 from $14.50. Cenovus shares dropped four cents to $12.75.
Eight Capital raised the target price on eCobalt Solutions to $2.20 from $1.45. eCobalt shares fell two cents, or 1.5%, to $1.32.
ON BAYSTREET
The TSX Venture Exchange retreated 1.94 points to 780.50
All but three of the 12 TSX subgroups were negative in the first hour, as gold settled 0.6%, health-care slipped 0.5%, and telecoms hesitated 0.4%.
The three gainers were information technology, picking up 0.4%, while financials inched up 0.02%, and real-estate nicked up 0.01%.
ON WALLSTREET
U.S. stocks rose Tuesday, helped by a recovery in technology stocks.
The Dow Jones Industrials recovered 51.2 points early Tuesday to 22,347.29. UnitedHealth, Apple and Boeing contributed the most to gains in the Dow. Apple traded more than 1% higher, while Facebook gained more than 0.5%.
The S&P 500 regained 5.8 points to 2,502.46. Information technology climbed about 0.7% as the best performer in the S&P 500, while energy fell more than 0.5% as the greatest laggard.
The NASDAQ improved 27.73 points to 6,398.33
Consumer confidence for September fell to 119.8 from 120.4 in August.
New Home Sales fell 3.4% in August, versus expectations for a gain.
The S&P CoreLogic Case-Shiller U.S. National Home Price NSA Index, covering all nine U.S. census divisions, reported a 5.9% annual gain in July, up from 5.8% the previous month and better than the 5.7% expected by economists
Prices for the benchmark 10-year Treasury note lost strength, raising yields to 2.24% from Monday’s 2.22%. Treasury prices and yields move in opposite directions.
Oil prices slipped 38 cents a barrel to $51.84 U.S.
Gold prices lost $8.20 to $1,303.30 U.S. an ounce
