Equity markets in Toronto sank on Thursday, extending the previous session's sharp fall as investors remained nervous about the U.S. Federal Reserve's outlook for raising interest rates.
The S&P/TSX composite index dropped 73.26 points to greet noon at 14,529.62
The Canadian dollar demurred 0.74 cents to 79.06 cents U.S.
Metals and mining stocks faded as Capstone Mining capsized 6.1% to $1.08.
Financials gave back ground, as Toronto Dominion Bank lost 1.5% to $50.43, and Bank of Montreal lost 1.4% to $75.35.
Shares of energy producers slipped. Canadian Natural Resources declined 3.5% to $34.03, and Suncor Energy shed 3.1% to $35.61.
The big winner, it seems, was among consumer staples, with convenience store chain Alimentation Couche-Tard leaping 78 cents in price, or 1.6%, to $48.22.
In corporate news, Potash Corp of Saskatchewan reported a better-than-expected quarterly profit, helped by strong potash sales and lower costs. The stock slipped 0.8% to $44.99.
ON BAYSTREET
The TSX Venture Exchange was down 5.45 points to 661.85
Eight of the 14 Toronto subgroups went higher by midday, with consumer staples vaulting 1%, information technology up 0.4% and industrials up 0.2%.
The half-dozen laggards were weighed by gold and metals and mining stocks, each group down 2%, while energy staggered 1.8%.
ON WALLSTREET
U.S. stocks wavered on Thursday, with the S&P 500 extending a two-day rout, as investors mulled earnings from corporations including Ford Motor and data that had a less-than-expected number of Americans filing for unemployment benefits.
The Dow Jones Industrials remained positive 20.33 points to 17,211.75, with McDonald's and Boeing leading blue-chip gains and Exxon Mobil and United Technologies pacing losses.
The S&P 500 picked up 1.58 points to 2,003.74, with energy the leading laggard among its 10 major sectors, and consumer discretionary faring the best.
The NASDAQ index shed 5.88 points to 4,632.11.
Alibaba Group Holding fell after the Chinese e-commerce company reported quarterly revenue short of expectations
McDonald's gained after the fast-food chain said its chief executive officer would be replaced by its chief brand officer March 1.
Qualcomm dropped after the chip manufacturer cut its fiscal 2015 outlook and Ford Motor climbed after the car manufacturer's quarterly earnings surpassed estimates.
Stock futures added to gains after the U.S. Labor Department reported jobless claims dropped by 43,000 to 265,000 last week, fewer than forecast and the lowest number in nearly 15 years.
Stocks offered muted reaction to another report that had pending-home sales dropping 3.7% in December.
Prices for 10-year U.S. Treasuries sagged, raising yields to 1.76% from Wednesday’s 1.72%. Treasury prices and yields move in opposite directions.
Oil prices slid 64 cents per barrel to $43.81 U.S.
Gold prices faded $28.10 an ounce to $1,257.80 U.S.
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