Toronto's resource-laden main stock index stumbled shortly after the open on Tuesday, tugged lower by weakness in energy and materials issues on lower underlying commodity prices.
The S&P/TSX Composite Index began Tuesday up only 6.28 points to 12,583, after two straight triple-digit gains.
The Canadian dollar eased 0.21 cents at 100.70 cents U.S.
Among stocks to watch, miner Centerra Gold said it expects production from its Kumtor mine in the Kyrgyz Republic to be lower than its forecast as increased ice movement delays access to a high-grade zone.
Rival Barrick Gold said it sees lower cash costs at its Lumwana mine in Zambia in 2013 as mining at the copper project moves out of the lower grade material in the Malundwe pit and into the new Chimiwungo pit
Enbridge Inc. and Enterprise Products Partners LP will more than double the capacity of the Seaway Pipeline, easing a major oil glut in the United States that has led to an unprecedented distortion in crude markets.
Oil and gas company WestFire Energy Ltd. posted a five-fold rise in FFO as production from its Viking areas increased.
ON BAYSTREET
The TSX Venture Exchange picked up 3.90 points to 1,585.29, while the Nasdaq Canada index erased 0.44 points to 417.78
In all, 10 of the 14 Toronto subgroups were positive to begin the day. Global base metals increased 0.7%, while metals and mining gained 0.5%, and materials were 0.4% to the good.
The four decliners were weighed by industrials, down 0.3%, while utilities and consumer staples slid 0.2% each.
ON WALLSTREET
In New York, stocks were mixed early Tuesday as investors considered reports on home prices and consumer confidence.
The Dow Jones Industrials registered 6.51 points lower, to 13,235.10, only a day after its best one-day gain in seven weeks.
The S&P 500 eked ahead 1.19 points to 1,417.70, while the Nasdaq improved a mere 6.27 points to 3,128.84
Bank of America led decliners on the Dow after the stock was downgraded by Baird Equity Research. Pfizer was the best performer on the blue-chip index.
A report showed home prices fell to a 10-year low in January, while an index of consumer confidence eased slightly in March.
In the afternoon, Federal Reserve Chairman Ben Bernanke will deliver a lecture at George Washington University.
Lennar posted earnings of eight cents per share on revenue of $725 million U.S., figures that topped analysts' estimates. The homebuilder said it has seen an uptick in sales and new orders in the first quarter.
Shares of major homebuilders were among the best performers in early trading. Pulte, DR Horton and KB Home were all higher.
Drug-store chain Walgreen reported earnings of 78 cents U.S. a share on $18.7 billion U.S. in revenue, slightly better than analyst estimates.
Shares of private education provider Apollo Group dropped despite reporting earnings late Monday that beat Wall Street estimates.
Morgan Stanley's former CEO John Mack is joining the private equity firm Kohlberg Kravis Roberts as a senior advisor, the firm announced Tuesday.
In matters economic, home prices in 20 major U.S. cities fell to the lowest level since 2002, according to S&P/Case-Shiller.
The index for January dropped 3.8%, after a 4.1% drop in the month prior.
The Conference Board's Consumer Confidence Index for March eased to 70.2 from 71.6 in February.
The price on the benchmark 10-year U.S. Treasury jumped, pushing the yield down to 2.21% from 2.28% Monday. Treasury prices and yields move in opposite directions.
Oil for May delivery gained 52 cents to $107.55 U.S. a barrel.
Gold futures for April delivery rose $7.40 to $1,693 U.S. an ounce.
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