The Toronto stock market was negative by noon Thursday amid a busy morning for earnings news
The TSX 300 had lost 44.08 points to greet noon at 14,812.12
The Canadian dollar fell 0.42 cents to 87.93 cents U.S.
After the close, Iamgold Corp. posted a quarterly net loss of $72.5 million U.S. or 19 cents per share, compared with net income of $25.3 million U.S. or seven cents a share in the same year-earlier period.
Revenue rose to $341.5 million U.S. from $293.5 million U.S. as gold sales rose to 233,000 ounces from 195,000, but the average realized price per ounce fell to $1,277 U.S. from $1,334 U.S.
On the commodity markets, December copper inched a penny higher to $3.04 U.S. a pound.
On Thursday, insurance and wealth management company Manulife Financial reported core earnings of $755 million or 39 cents in the third quarter, up 10.1% from a year earlier and a penny short of estimates.
Manulife's net income was $1.1 billion or 57 cents per share, much higher than the 26 cents that analysts had expected. But Manulife has said in the past that its core earnings are a better measure of its profitability because of the nature of its business.
National theatre chain Cineplex Inc. reported quarterly profit of $15.9 million or 25 cents per share, down 39 per cent from a year ago. Analysts had estimated 39 cents per share. Cineplex's adjusted earnings fell 17% to $48 million from $57.9 million a year earlier. The company had stable revenue of $299 million, up 0.2%. Its attendance was down about 5.1% from a year earlier.
On the economic front, Statistics Canada reported this morning that its New Housing Price Index rose 0.1% in September, following a 0.3% increase in August. Provincially, increases in Ontario and Alberta offset declines in Quebec and Manitoba.
ON BAYSTREET
The TSX Venture Exchange erased 5.74 points to 765.63
ON WALLSTREET
U.S. stocks erased Thursday gains that had lifted the S&P 500 and Dow to records, with energy companies slammed as the price of oil fell, countering upbeat earnings from the world's largest retailer and data showing jobless claims holding at a 14-year low.
The Dow Jones Industrials moved ahead 52.09 to 17, 664.29, while the S&P 500 added 0.75 to 2,039, and the NASDAQ index grew 15.40 to 4,690.54
Of the 453 S&P 500 companies that have reported quarterly earnings, 74.8% have topped expectations, according to numbers compiled by Thomson Reuters.
Wal-Mart climbed after the company reported a larger-than-expected profit as comparable sales at U.S. stores climbed for the first quarter in seven. J.C. Penney shares declined after the retailer posted a less-than-estimated quarterly loss but said same-store sales were flat.
The U.S. Labor Department on Thursday reported initial claims for state unemployment benefits climbed 12,000 to 290,000 last week, above the 280,000 forecast but beneath 300,000 for a ninth consecutive week.
Prices for the 10-year Treasury were unchanged, keeping yields at Wednesday’s 2.36 %.
Oil prices sank $1.86 to $75.32 U.S.
Gold prices tacked on $6.10 to $1,165.20 U.S.
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