The TSX slightly reduced its earlier losses Tuesday, as energy stocks picked up steam and miners narrowed their midday decline.
The S&P/TSX composite index finished the day off three points to conclude business Tuesday at 14,753.05
The Canadian dollar was up 0.08 cents to 81.23 cents U.S.
Gold and copper prices were still under pressure, pulling the metals and mining sector down with the greenback reacting positively to the Greek debt crisis.
Oceana Gold shed 10.5 cents, or 3.7%, to $2.76, while New Gold lost 12 cents, or 3.1%, to $3.72.
Among metals stocks, Nevsun Resources lost 23 cents, or 4.6%, to $4.75, while Turquoise Hill Resources dropped 15 cents, or 2.9%, to $4.96.
At the other end of the pole, consumer discretionary stocks moved ahead, as Hudson’s Bay Company shares shot ahead $2.36, or 9.1%, to $28.25, while Amaya Inc. gained 93 cents, or 3%, to $31.48.
The energy sector was also favourable, as Cenovus Energy added 57 cents, or 2.9%, to $20.49.
Tahoe Resources was the most actively traded stock, falling $1.71, or 9.3%, to $16.78, on 2.9 million shares.
On the economic ledger, Statistics Canada reported that foreign investors purchased Canadian securities for a fourth straight month in April, adding $12.9 billion to their holdings.
At the same time, our investments offshore resumed with acquisitions of foreign securities totaling $6.6 billion in the month, mainly non-U.S. foreign securities.
ON BAYSTREET
The TSX Venture Exchange moved up 0.36 points to 678.75.
Nine of the 14 Toronto subgroups were down on the day, with gold down 1.6%, metals and mining and materials each down 1%.
The four gainers were led by consumer discretionary and energy stocks, each ahead 0.7%, and health-care stocks, ahead 0.6%, while telecoms were unchanged on the day.
ON WALLSTREET
U.S. stocks closed higher on Tuesday as the Federal Reserve's began a two-day meeting and investors attempted to shake off worries about the Greece debt talks.
The Dow Jones Industrials zoomed 113.31 points to 17,904.48, with UnitedHealth leading advancers and Caterpillar the only laggard. Pfizer closed flat.
The S&P 500 index gained 11.87 points to 2,096.30, with consumer staples leading all 10 sectors higher.
The NASDAQ moved higher 25.58 points to 5,055.56
UnitedHealth closed up about 2% after a Monday report that it approached Aetna about a takeover deal. The smaller firm jumped nearly 3.3% to a new high.
Earnings due after the bell include Adobe Systems, Bob Evans Farms and La-Z-Boy.
Economic data releases continued to show moderate growth.
May housing starts showed an 11.1% decline, missing expectations, while building permits increased 11.8% month-over-month.
The Federal Open Market Committee begins its highly-anticipated meeting on Tuesday. The real news of interest on monetary policy won't come until Wednesday afternoon, when the Fed releases its statement and Chair Janet Yellen holds a press conference.
Consensus is for a rate hike in September.
Greek Prime Minister Alexis Tsipras on Monday blamed creditors for the collapse of talks on unlocking aid for reforms at the weekend.
The impasse has raised concerns that Athens is heading for a debt default that could end with it leaving the euro-zone.
Tsipras told lawmakers of his Syriza party that the lenders want to humiliate the Greek government and the creditors' obsession for a program of cuts cannot be a mistake—it has political ends.
The prime minister also said they will continue to work for a solution but their public mandate is to end austerity, while Greek officials want a deal that ends talk of "Grexit" once and for all.
Prices for 10-year U.S. Treasuries gained, lowering yields to 2.31% from Monday’s 2.36%. Treasury prices and yields move in opposite directions.
Oil prices gained 47 cents a barrel to $59.99 U.S.
Gold prices fell $4.60 at $1,181.20 U.S. an ounce.
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