Canada's main stock index declined on Wednesday as shares of energy producers dropped with oil prices ahead of an Organization of the Petroleum Exporting Countries meeting later this week.
The S&P/TSX composite index dipped 31.72 points to greet noon at 15,041.93
The Canadian dollar gained 0.17 cents to 89 cents U.S.
The energy sector, which has lost about a quarter of its value since the middle of June, remained under pressure.
Shares of energy producers fell, with Suncor Energy Inc losing 1.1% to $39.21 and Canadian Natural Resources giving back 1.1% to $41.60.
The gold-mining sector shed earlier strength, reflecting volatility in the bullion price. Barrick Gold declined 1.5% to $14.55, and Goldcorp was down 1.6% to $23.77.
But financials, the index's most heavily weighted sector, advanced, as Toronto Dominion Bank added 0.4% to $57.03.
The OPEC meeting is significant as it comes after months of volatility in the price of oil, which has plummeted over concerns about an imbalance in the commodity's supply and demand.
Investors hopeful of a big supply cut were dealt a blow as OPEC leader Saudi Arabia and fellow member the United Arab Emirates indicated they were unlikely to push for a major change in oil output at the meeting.
ON BAYSTREET
The TSX Venture Exchange fell 5.37 points to 775.27.
Eight of the 14 Toronto subgroups remained negative by noon, with gold sliding 1.8%, materials down 1.6% and energy off 1.3%
The half-dozen gainers were led by information technology, up 0.7%, telecoms, up 0.6% and financials, up 0.3%.
ON WALLSTREET
U.S. stocks fluctuated on Wednesday, with benchmarks not far from record highs, after data had durable goods and jobless claims rising.
The Dow Jones Industrials backtracked 3.68 points to pause for lunch at 17,811.26
The S&P 500 gained 2.45 points at 2,069.48. The NASDAQ index moved up 16 points to 4,774.25.
SeaDrill fell sharply after the offshore driller suspended its dividend after a soft earnings report.
Shares of Hewlett-Packard slid after the computer maker reported fourth-quarter sales below expectations.
Hertz Global rose as a regulatory filing showed activist investor Carl Icahn boosted his stake in the car-rental supplier by about 11%.
Deere & Co. declined as the farm-equipment maker projected 2015 profit below estimates.
On a busy economic day – the eve of Thanksgiving -- the U.S. government reported orders for durable goods rose in October, while a separate report had applications for unemployment benefits rising by 21,000 to 313,000 last week.
Consumer spending rose 0.2% last month after holding steady in September.
A gauge of business activity in the Chicago area came in below expectations.
The National Association of Realtors reported pending home sales fell 1.1% in October.
Prices for 10-year U.S. Treasuries gained ground, lowering yields to 2.24% from Tuesday’s 2.26%. Treasury prices and yields move in opposite directions.
Oil prices dipped nine cents to $74.00 U.S.
Gold prices dropped 80 cents at $1,196.30 U.S.
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