Markets in Toronto closed Wednesday somewhat mixed, with losses in health-care weighing things down, nearly overcompensating for gains in utilities and consumer stocks.
The S&P/TSX Composite Index held onto gains of 9.62 points to end Wednesday at 15,712.31
The Canadian dollar tumbled 0.46 cents to 75.72 cents U.S.
Among utilities, Fortis gained 41 cents to $47.74, while ATCO Ltd. shares were static at $42.60
In the consumer discretionary sector, Magna International moved forward 51 cents to $69.48, while Canada Goose Holdings hiked $1.61, or 2.3%, to $73.01.
In real-estate, Colliers International Group moved up 30 cents to $86.23.
The largest percentage gainer on the TSX proved to be ATS Automation Tooling Systems Inc, which surged $2.63, or 16.2%, to $18.84, after the company's quarterly results topped expectations.
Health-care stocks took a beating, in particular, Aphria, which fell $1.26, or nearly 9%, to $12.81, the most on the TSX, after rejecting a hostile takeover bid from U.S. cannabis retailer Green Growth Brands Inc, saying the offer significantly undervalued the company.
The second biggest decliner was fellow cannabis firm Canopy Growth, down $2.46, or 3.9%, to $61.30.
Gold stocks were shaken up, too, as Kinross doffed four cents to $4.45, while Barrick Gold lost six cents to $17.47.
In communications, Rogers slid 82 cents, or 1.1%, to $71.33, while Shaw Communications lost 11 cents to $27.07.
On the economic docket, Statistics Canada reported that Canadian municipalities issued $8.8 billion worth of building permits in December, up 6.0% from November and the fourth consecutive monthly increase.
The gain was largely due to higher construction intentions for multi-family dwellings and commercial buildings, with both components hitting record highs.
Western University’s IVEY School of Business presents its Purchasing Managers Index for January. The PMI measured 54.7 last month, down sharply from the 59.7 issued in December, and off from the 55.2 in January 2018
A deputy governor of the Bank of Canada said despite strong economic fundamentals, uncertainty over the U.S. trade policies is temporarily slowing growth.
ON BAYSTREET
The TSX Venture Exchange gave back 0.12 points – off its lows of the day -- to 620.51
The 12 TSX subgroups were split right down the middle, as utilities led gainers, up 0.9%, while consumer discretionary issues moved higher 0.8%, and real-estate climbed 0.5%.
Health-care weighed most on the half-dozen laggards, sagging 3.5%, while gold dropped 0.5%, and communications lost 0.3%.
ON WALLSTREET
Stocks slipped on Wednesday as Wall Street digested mixed quarterly earnings results as well as President Donald Trump's second State of the Union address.
The Dow Jones Industrial Average trailed Tuesday’s close by 21.22 points to 25,390.30, and ended a three-day winning streak.
The S&P 500 lost 6.09 points to 2,731.61, to snap a five-day winning streak
The NASDAQ Composite fell 26.8 points to 7,375.28. Shares of tech-related companies like Facebook, Amazon, Netflix and Google-parent Alphabet all declined at least 0.4%.
General Motors reported better-than-expected results on Wednesday, sending its shares up by 1.6%. Walt Disney and Snap also reported better-than-forecast results. Disney slipped 1.1%, however, while Snap surged 22%.
Eli Lilly and Cummins, meanwhile, reported earnings that missed expectations. Ely Lilly dipped 1% while Cummins fell 0.3%.
Through Wednesday morning, more than 55% of S&P 500 companies have posted quarterly results. Of those companies, 68% have beaten expectations.
Trump addressed issues like infrastructure spending, drug pricing and trade. He also appeared to soften his tone around funding for a border wall along the U.S.-Mexico border. Trump reiterated his belief the U.S. needs a border wall, but did not declare a state of emergency as he had previously threatened to do.
Prices for the benchmark 10-year U.S. Treasury moved lower, raising yields back to Tuesday’s 2.7%. Treasury prices and yields move in opposite directions.
Oil prices revived 28 cents to $53.94 U.S. a barrel.
Gold prices were down $8.80 to $1,310.40 U.S. an ounce.
