Canada's main stock index fell on Wednesday but was on track to finish in positive territory for a third consecutive year despite blows dealt by oil, which is heading for its biggest annual decline since 2008.
The S&P/TSX composite index dropped 18.48 points to greet noon at 14,621.56
The Canadian dollar gained 0.03 cents to 86.16 cents U.S.
Oil dropped as a survey showed China's factory sector shrank for the first time in seven months in December, a bearish indicator for an oil market already under pressure from weakening demand and a supply glut.
The index was on track to finish up about 7% from the end of 2013, when it rose nearly 10%.
Energy stocks fell, led by heavyweight Suncor Energy Inc, which was down 1.6% at $36.51.
Copper fell on Wednesday, and ended the year down 14% its biggest annual decline in three years, on fears that a supply surplus would hit the market next year.
Spot gold also fell, and materials sector dropped. Barrick Gold was a drag on the index, falling 2.5% to $12.29.
ON BAYSTREET
The TSX Venture Exchange slipped 0.31 points to 686.61.
The 14 Toronto subgroups were evenly divided between gainers and losers, as consumer staples moved higher 0.6%, health-care 0.5%, and industrials improved 0.4%.
The seven laggards were weighed mostly by gold, down 1.5%, while materials and energy each headed south 0.6%.
ON WALLSTREET
U.S. stocks traded mostly higher on Wednesday, unfazed by continued low oil prices and slightly disappointing economic data.
The Dow Jones Industrials was still positive 11.94 points to 17,995.01, as Home Depot led gains on the Dow in low volume trade, up 1.5%. Exxon Mobil proved the greatest laggard.
The S&P 500 hung onto gains of 0.12 points to 2,080.47, with consumer discretionary leading gains in seven sectors and energy the greatest decliner.
The NASDAQ index gained 9.59 points to 4,787.03.
Stocks to watch include BP, after the U.K.'s Financial Times reported the oil behemoth was investigating financial traders in its oil and gas group for foreign exchange manipulation.
Drug store chain operator Walgreen Co. completed its merger with Britain's Alliance Boots, with the combined company trading under the WBA ticker and the name Walgreens Boots Alliance. Greg Wasson, who had served as Walgreen CEO, is retiring, with Stefano Pessina becoming acting CEO.
Utilities stocks will be in focus, with that sector being the year's best performer—but yesterday's worst. 2014's best performing utility stocks include Integrys Energy, Edison International, Entergy, and Pepco Holdings.
On the economic front, the Chicago Purchasing Managers' Index for December came out at 58.3, below expectations.
Pending home sales rose just 0.8% in November from a downwardly revised October reading.
Weekly initial jobless claims numbers came in a bit higher than expected at 298,000.
Prices for 10-year U.S. Treasuries gained ground, lowering yields to 2.18% from Tuesday’s 2.19%. Treasury prices and yields move in opposite directions.
Oil prices fell a dollar per barrel to $53.12 U.S.
Gold prices settled $13.40 an ounce at $1,187 U.S.
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