Canada's main stock index eased on Wednesday after hitting a record high in the previous session as weakness in energy and materials shares weighed, offsetting a gain in National Bank of Canada after the lender reported strong quarterly results.
The S&P/TSX composite index was down 8.72 points to greet noon Wednesday at 15,610.49.
The Canadian dollar was up 0.48 cents at 91.79 cents U.S.
A 3.9% drop in Talisman Energy to $11.24, after news that the oil company had run into difficulties trying to sell itself to Spanish energy company Repsol SA, was also a drag.
National's shares jumped 2.4% as the country's sixth-largest bank reported a stronger quarterly profit, helped by a sharp jump in earnings at its wealth
management and financial markets arms.
The materials sector, which includes mining stocks, shed ground, with Barrick Gold losing 0.8% to $19.75 and Agrium declining 1.2% to $102.14.
Shares of energy producers slipped, with Canadian Natural Resources Ltd dropping 0.3 percent at $47.04.
ON BAYSTREET
The TSX Venture Exchange recovered 2.29 points to 1,015.65.
All but four of the 14 Toronto subgroups were lower by noon. Materials and gold each sagged 0.8%, while metals and mining stocks slid 0.3%.
The four gainers were led by financials, up 0.4%, while information technology and consumer staples each climbed 0.2%.
ON WALLSTREET
The U.S. stock market switched between small gains and losses Wednesday, with the S&P 500 staying around 2,000 a day after it closed over that milestone for the first time.
The Dow Jones Industrials fought its way into the green, tacking on 3.43 points to 17,110.13.
The S&P 500 slid 0.54 points to 1,999.48. The NASDAQ squeezed up 0.23 points to 4,570.87.
Tiffany & Co. lifted its full-year earnings forecast after reporting a 16% rise in second-quarter profit. Tiffany gained 2.2%, faring best among S&P 500 stocks.
Best Buy Co. Inc. was another big S&P winner, rising 2.1% and recovering somewhat from its tumble on Tuesday.
Michaels Cos. Inc. jumped 8.2% after the arts and crafts retailer reported better-than-expected fiscal second-quarter results in its first report as a public company.
Express Inc. leapt 12.5% after the clothing retailer lifted its full-year profit guidance, but Yingli Green Energy Holding Co. Ltd. sank 9.3% after the solar-energy company reported a $46-million U.S. loss for the second quarter.
Prices for 10-year U.S. Treasuries sagged, lowering yields to 2.37% from Tuesday’s 2.39%. Treasury prices and yields move in opposite directions.
Oil prices were down 26 cents to $93.60 U.S. a barrel.
Gold prices removed $1.90 to $1,283.30 U.S. an ounce.
Related Stories
