The Toronto stock market stumbled to the finish Wednesday, as oil and gold prices moved lower.
The S&P/TSX composite index finished the session down 31.76 points to 12,359.47
The Canadian dollar moved down 0.38 cents to 101.22 cents U.S.
A report from Royal LePage showed that the average price of a resale home in Canada rose between 1.8% and 4.8% in the third quarter of 2012 compared to the same period last year.
The report also said the cost of an average two-storey home in Canada increased 4% to $403,747, while detached bungalows rose 4.8% to $366,773.
Health-care stocks were among the top gainers on the market, as Catamaran Corp. shares soared $1.9, or 4.1%, to $50.50, while Valeant Pharmceuticals grew $1.31, or 2.4%, to $56.25.
Energy issues were the hardest hit, with Imperial Oil staggering 33 cents to $45.38, while rival Suncor surrendered 19 cents to $32.74.
In the gold field, Goldcorp stepped back 21 cents to $44.72, and Barrick Gold Corp. lost 34 cents to $40.65.
Quebecor Inc. says it is taking advantage of low interest rates to buy back a substantial interest in its operating arm from the Caisse de depot et placement du Quebec in a transaction valued at $1.5 billion.
Under the deal, which involves the buyback of some 30.5 million shares, the Caisse's interest in Quebecor Media Inc. is being reduced to 24.6% from 45.3%. Shares of Quebecor were down 41 cents to $33.01.
In the metals and mining sector, Thompson Creek Metals says it plans to reduce costs at its Thompson Creek molybdenum mine in Idaho by more than $100 million amid uncertainty in the world economy. Shares of the company lost two cents to $2.61.
Elsewhere in the sector, First Quantum Minerals climbed 40 cents, or 1.9% to $21.67, and Major Drilling Group vaulted 19 cents, or 1.8%, to $10.62.
ON BAYSTREET
The TSX Venture Exchange fell back 6.56 points to 1,325.22
The 14 Toronto subgroups were evenly split between gainers and losers. The former was led by health-care issues, up 1.8%, while the metals and mining group gained 0.9% and telecoms advanced 0.4%
The seven laggards were weighed mostly by energy stocks, down 1.2%, while gold slid 0.9% and materials ducked back 0.6%.
ON WALLSTREET
U.S. stocks held modest gains Wednesday as investors welcomed improved reports on hiring and the services sector, but the advance was tempered by concerns about growth in Europe and Asia.
The Dow Jones Industrial average was positive by 12.25 points to end the day at 13,494.60
The S&P 500 moved higher 5.48 points to 1,451.23, while the tech-rich Nasdaq added 15.19 points to 3,135.23
Hewlett-Packard was the worst performer among Dow stocks. Shares of the PC-maker fell 13% after the company lowered its outlook for next year.
Shares of Best Buy soared following reports that founder Richard Schultze and at least four private equity firms have started examining Best Buy's books in advance of a potential $11-billion U.S. buyout offer.
Shares of MetroPCS fell after it announced plans to merge with Deutsche Telekom's T-Mobile USA.
Family Dollar shares gained strength after the company reported fourth-quarter earnings and sales that were in line with forecasts, and said it planned to open 500 stores next year. But the gains were offset by Family Dollar's lowered guidance for the first quarter.
Shares of agribusiness giant Monsanto went for a dive after it reported a worse-than-expected quarterly loss.
Experts say, after a strong run in the third quarter, investors are now looking for the next catalyst to drive stock prices
In the economic docket, the Mortgage Bankers Association's index, which measures mortgage applications, rose 16.6% for the week ended Sept. 28. That's a big jump from the prior week's 2.8% increase.
Elsewhere, payroll processor ADP said the U.S. gained 162,000 private-sector jobs in September. The report is considered a prelude to the U.S. government's closely watched monthly jobs data, due out this Friday. Investors are hoping to see a rebound in the labour market after a somewhat grim report last month
The price on the benchmark 10-year U.S. Treasury slid, raising yields to 1.62% from Tuesday’s 1.61%. Treasury prices and yields move in opposite directions.
Oil prices tripped $3.89 to $88.00 U.S. a barrel.
Gold prices jumped $4.50 to $1,780.10 U.S. an ounce.
Related Stories
