The Toronto stock market was little changed mid-afternoon Tuesday amid further volatility in oil prices, but damage was limited by a strong runup in gold stocks.
The S&P/TSX composite index stayed negative 23.88 points to conclude Tuesday at 14,640.04
The Canadian dollar regained 0.23 cents to 86.16 cents U.S.
The energy sector fell as Imperial Oil dipped 26 cents to $50.35, and Suncor let go of 33 cents to $37.07.
Elsewhere on the TSX, financials were also a drag, as RBC ditched 45 cents to $80.37, while industrials fell. Bombardier shares tacked on six cents, however, to $4.10.
The gold sector was the leading advancer in Toronto, Barrick Gold sprinted 45 cents, or 3.7%, to $12.63, and Goldcorp gained 90 cents, or 4.4%, to $21.57.
The base metals group climbed while March copper edged up three cents to $2.85 U.S. a pound. Teck Resources moved up 11 cents to $15.97.
The TSX is on the way to a gain of around 8% for 2014.
ON BAYSTREET
The TSX Venture Exchange gained 5.51 points to 687.12.
Nine of the 14 Toronto subgroups were lower on the day, with energy moving lower 1%, financials off 0.8%, and utilities sliding 0.5%.
The five gainers were led by gold, leaping 4%, materials, stronger 2.2%, and metals and mining 1.8% to the good.
ON WALLSTREET
U.S. stocks traded lower on Tuesday, with a sharp decline in the utilities sector leading laggards on the S&P 500.
The Dow Jones Industrials dropped 55.16 points to 17,983.07, ending its eight-day win streak. Caterpillar led declines and UnitedHealth led six blue-chip advancers.
The S&P 500 subtracted 10.22 points to 2,080.35, with utilities leading declines in all sectors except materials.
On Monday, the utilities sector had led the S&P 500 to its 53rd record close for the year.
The NASDAQ index fell 29.47 points to 4,777.44.
Gold futures recovered all of Monday's losses to settle up. Related gold stocks benefited from the rally, with Newmont Mining and Barrick Gold rising more than 4%. Gold Fields gained about 3%.
Multi-utilities SCANA, Wisconsin Energy, and CMS Energy, along with power producer AES all traded down more than 2%.
American Realty pared some gains after surging more than 8% on activist investor Corvex's disclosure of a 7.1% stake in the real estate investment consulting group.
Fast casual chain Chipotle traded lower on the day while maintaining a near 30% gain for the year.
Economically speaking, the December reading of the Conference Board's consumer confidence index came in slightly lower-than-expected at 92.6.
Earlier, the Case-Shiller house price index for October showed that U.S. single-family home prices' rate of increase continued to decelerate in October since the stronger-than-expected rise seen in the previous month.
The Greek parliament, for a third time, failed to elect a new president on Monday, meaning a general election has been called for January 25. There are worries that far-left anti-austerity party Syriza could win, with polls showing that the party has a narrow lead, according to Reuters.
Athens' main stock exchange, which ended almost 4%lower on Monday, pared losses to trade about 0.25% lower.
Prices for 10-year U.S. Treasuries gained, lowering yields to 2.19% from Monday’s 2.20%. Treasury prices and yields move in opposite directions.
Oil prices regained 22 cents per barrel to $53.83 U.S.
Gold prices gathered $16.20 an ounce at $1,198.10 U.S.
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