Canada's main stock index was little changed on Thursday as weakness in energy and gold stocks undercut rises in several companies reporting quarterly results, including Potash Corp of Saskatchewan and Teck Resources
The S&P/TSX composite index was 0.07 points north of breakeven to close Thursday’s session at 15,394.45
The Canadian dollar was down 0.13 cents at 93.08 cents U.S.
The TSX index has been trading at record high levels for much of July and touched a new high of 15,409.03 just after the open. But analysts note the strong performance has been based on light summer trading volumes, which can increase volatility.
Fertilizer producer Potash Corp and diversified miner Teck Resources both pushed higher on Thursday after posting earnings.
Potash gained 0.3% to $38.92 after it reported a stronger-than-expected profit and boosted its full-year earnings outlook.
Teck surged 1.3% to $25.94 after it reported slightly stronger-than-expected earnings.
Encana also rose, up 0.9% at $23.92, despite posting a 31% drop in operating profit.
The telecom subgroup rose as Rogers Communications Inc posted a profit in line with expectations. Its stock was up 1.1% at $42.88.
Sliding precious metals prices yanked gold miners lower, with Barrick Gold falling 2.3% to $19.66.
Among oil and gas shares, weaker oil prices weighed on sector heavyweight Suncor Energy, which eased 0.2% to $45.44, and Talisman Energy, which dropped 1.8%, to $11.76.
On the economic slate, Statistics Canada reported that those receiving regular employment insurance benefits fell by 12,100 or 2.3%. The total number of beneficiaries for the month was 504,100.
ON BAYSTREET
The TSX Venture Exchange gave back 0.58 points to 1,011.65
Nine of the 14 Toronto subgroups were higher, with information technology surging 1.4%, consumer staples 0.7% higher, and health-care, 0.5% to the good.
The five laggards were weighed mostly by gold, down 1.5%, industrials, off 0.8%, and materials, sliding 0.7%.
ON WALLSTREET
The S&P 500 rose to another new high Thursday and is now within range of 2,000.
The Dow Jones Industrials inched back 2.83 points to 17,083.80.
The S&P 500 gained 0.97 points to 1,987.98. The NASDAQ composite faltered 1.59 points to 4,472.11.
Overall, corporate earnings for the second quarter have been strong. Of the 148 members of the S&P 500 that have reported earnings as of Wednesday, 102 have been better than expected, according to S&P Capital IQ.
Shares of SodaStream surged on a report that said the maker of at-home soda machines is in talks to be taken private. The stock was halted briefly following a 24% spike. It was up 15% when trading resumed.
There have been rumors that SodaStream could partner with a larger beverage company after Coca-Cola took a significant stake in Keurig Green Mountain, which is working on its own at-home soda machine.
SodaStream did not immediately respond to a request for comment.
Zillow wants to buy rival real estate listing website Trulia, according to another Bloomberg report. Sources said a deal could be announced next week. Shares of Zillow soared 25%, while Trulia's stock price surged 30%.
Facebook shares rose 6% to a record high after posting earnings that blew away expectations.
Qualcomm shares plunged due to worries over the company's business in China. Qualcomm is being investigated under China's anti-monopoly law. The tech firm said in its quarterly report that some clients in the country are "not fully complying with their contractual obligations."
AT&T slipped after reporting earnings that missed expectations by a penny.
Amazon and Pandora will report after the close.
Caterpillar shares fell after the construction equipment maker lowered the mid-point of its 2014 sales outlook, citing weakness in China.
3M shares edged higher after the company reported earnings that met analysts' expectations.
General Motors expects to pay between $400 million and $600 million U.S. to compensation victims of its faulty ignition switches, which have been linked to at least 13 deaths. As a result, GM will take a $1.2-billion U.S. pre-tax charge. The report comes one day after GM recalled another 718,000 vehicles.
Rival automaker Ford reported a quarterly pre-tax profit of $2.6 billion U.S., including its first profit in Europe in three years.
In matters economic, the number of Americans filing first-time claims for unemployment benefits fell to a more than eight-year low, according to the U.S. Labor Department's weekly report.
China's factories are motoring again after a dismal start to the year, with a preliminary estimate of manufacturing activity hitting an 18-month high in July.
Prices for 10-year U.S. Treasuries fell, raising yields to 2.51% from Wednesday’s 2.46%. Treasury prices and yields move in opposite directions.
Oil prices docked $1.11 to $102.01 U.S. a barrel.
Gold prices dipped $12.90 to $1,292.10 U.S. an ounce.
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