Stocks in Toronto slipped a mite on Thursday, after hitting a two-and-a-half-week high this week, but declines were modest, with many investors awaiting some sort of news about and resolution to Greece's debt situation.
The S&P/TSX composite index slid 14.87 points to greet noon at 14,932.64
The Canadian dollar regained 0.25 cents to 81 cents U.S.
Energy names were among the biggest drags on the index, offsetting gains elsewhere including in the hefty financial sector.
Suncor Energy Inc fell 1.7% to $35.08, while Encana Corp declined 2.9% to $14.31.
The materials group, home to mining companies, was also down, with First Quantum Minerals Ltd falling 4.2% to $17.37. Teck Resources Ltd lost 3% to $13.50.
Financial names, which include banks and insurers, offset some of the resource losses. Bank of Montreal climbed about 1% to $75.89.
ON BAYSTREET
The TSX Venture Exchange remained buoyant 2.17 points to 682.65
Eight of the 14 TSX subgroups were still in the red midday, as metals and mining lurched 2.5% lower, global base metals were behind 2%, and energy was 1% less energetic.
Telecoms headed the half-dozen gainers, up 0.7%, while financials surged 0.5%, and consumer discretionary stocks gained 0.4%.
ON WALLSTREET
U.S. equities traded in a narrow range on Thursday after opening higher as investors eyed ongoing negotiations between Greece and its creditors.
The Dow Jones Industrials moved higher 14.88 points, to 17,980.95,
The S&P 500 index inched up 4.91 points to 2,113.49,
The NASDAQ remained positive 14.51 points to 5,136.92, amid reports that the meeting between Greece and its creditors was halted "indefinitely."
Nevertheless, the meeting has since resumed. In order to avoid defaulting on its 1.6-billion-euro debt, Greece needs additional financial aid by the end of this month.
In corporate news, BlackBerry announced a 12-million common stock buyback program to offset dilution from a new employee stock purchase plan.
Recreational vehicles maker Winnebago and consulting firm Accentureboth reported quarterly profits that beat analysts' expectations on both lines.
Bank of America Merrill Lynch raised its rating on drug maker Eli Lilly to "buy" from "neutral", on increased estimates for several drugs still in Lilly's pipeline, while BB&T began coverage of apparel retailer L Brands with a "buy" rating, saying the parent of Victoria's Secret and Bath & Body Works has strong management and good brand positioning.
IAC/InterActiveCorp also announced plans to spin off The Match Group, which owns a number of dating sites, including Match.com.
Shares of retailer Kroger rose more than 1% after announcing a 13.5% dividend increase and a two-for-one stock split.
On another note, several hospital stocks, including HCA Holdings, Tenet Healthcare, Community Health Systems and Universal Health Services, also jumped more than 5% Thursday morning after the U.S. Supreme Court ruled that federal subsidies that help nearly 6.4 million people pay for their Obamacare health plans are legal under the Affordable Care Act.
Investors also kept an eye on U.S. economic data, as weekly jobless claims came in at 271,000, slightly below analyst’ expectations.
U.S. consumer spending also rose 0.9% for the month of May, its largest gain in nearly six years while personal income increased 0.5% last month.
The Services PMI fell from 56 in May to 54.6 in June, showing a slower growth rate in the services sector.
Prices for 10-year U.S. Treasuries listed lower, raising yields to 2.42% from Wednesday’s 2.38%. Treasury prices and yields move in opposite directions.
Oil prices subtracted 44 cents a barrel to $59.83 U.S.
Gold prices gained 40 cents at $1,173.30 U.S. an ounce.
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