Toronto’s benchmark stock index reversed Tuesday, with metals stocks weighing heavily.
The S&P/TSX composite index moved down 5.95 points to end the day, month and quarter at 14,902.44
The Canadian dollar inched up 0.06 cents to 78.95 cents U.S.
In stocks, financials grew their earlier advances on the strength of TD up 91 cents, or 1.7%, to $54.21, as well as Royal Bank, growing $1.13, or 1.5%, to $76.24.
Energy producers such as Imperial Oil fell 80 cents, or 1.6%, to $50.55, while Canadian Natural Resources was down 23 cents to $38.82.
Industrials also maintained their strength, as Bombardier, up 10 cents, or 4.2%, to $2.50.
The mining group pared its midday decline but was down more than 2% nonetheless, with gold prices plunging. Barrick Gold slumped 28 cents, or 2%, to $13.85
Teck Resources plummeted $2.07, or 10.6%, to $17.38.
MBAC Fertilizer dropped 42.9%, to two cents, and proved the most actively traded stock.
In the economic docket, Statistics Canada reported that Gross Domestic Product in this country was down 0.1% in January, after increasing 0.3% in December and declining 0.2% in November.
ON BAYSTREET
The TSX Venture Exchange faded 0.26 points to 680.07
All but three of the 14 Toronto subgroups were pointed downward on the day. Metals and mining stumbled 2.9%, global base metals dropped 2%, and materials slipped 1.6%.
The three gainers were headed by financials, up 1%, industrials, ahead 0.6%, and real-estate, gaining 0.3%.
ON WALLSTREET
U.S. stocks closed lower on Tuesday, giving back most of Monday's major gains, as investors eyed mixed economic data and the end of the first quarter.
The Dow Jones Industrials collapsed 200.19 points, or 1.1%, to 17,776.12, with UnitedHealth the greatest laggard and American Express leading just three blue-chips higher.
The S&P 500 dipped 18.35 points to 2,067.89, with health care leading all 10 sectors lower. Hospira was the top performer for the quarter, while SanDisk was the worst.
The NASDAQ fell 46.55 points to 4,900.89
The NASDAQ posted gains of 3.5%for the quarter, marking the index's first nine-quarter winning streak. The S&P eked out its own nine-quarter run with a gain of 0.4% last quarter. Only the Dow was negative for the quarter.
Comcast is establishing a new company that will focus on investing and operating growth-oriented companies, to be led by current Chief Financial Officer Michael Angelakis. Comcast will immediately begin a search for a new CFO.
IBM will invest $3 billion U.S. in a unit centered around the "internet of things." The unit's first partnership is with Weather Channel parent Weather Co., which will move its data services into the IBM "cloud."
Starbucks debuts a new line of smoothies at some of its U.S. shops, as part of a partnership with France's Danone, maker of the Dannon yogurt brand.
Investor Bill Ackman said shutting down Herbalife is "one of the most importing things" he can do. Ackman made his comments at a meeting of the Council of Institution Investors, speaking about his massive short bet against Herbalife that began in December 2012 and his claims that Herbalife is a pyramid scheme.
Online fashion retailer Net-a-Porter will be combined with Italian online clothing company Yoox in a deal that creates a company with annual revenue of more than $1.3 billion U.S. Forbes had reported last week that Amazon was in talks to buy Net-a-Porter.
The U.S. dollar is up 9% for the year and is expected to continue weighing on corporate earnings, which begin reporting in April.
The latest consumer confidence reading showed an increase to 101.3 in March, above February's 98.8.
The Chicago PMI for March posted 46.3, a slight increase from last month but below expectations for 51.5.
Case-Shiller house price indices for January showed an increase from last year.
Prices for 10-year U.S. Treasuries gained some ground, lowering yields to 1.93% from Monday’s 1.96%. Treasury prices and yields move in opposite directions.
Oil prices fell $1.20 to $47.48 U.S.
Gold prices eased $1.50 to $1,183.80 U.S.
Related Stories
