Equity markets in Canada’s largest centre were slightly higher on Tuesday, with shares in oil and gas companies weighing and consumer stocks helping keep the index near its previous close.
The S&P/TSX composite index remained positive 15.13 points to greet noon at 14,483.57
The Canadian dollar inched up 0.21 cents to 76.23 cents U.S.
Markets in Toronto were closed for the Civic Holiday.
Oil prices steadied on Tuesday, but failed to lift the Toronto market's oil and gas sector. Among the big decliners in the group,
TransCanada Corp. lost 1.5% to $50.09 and major producer Suncor Energy fell 1% to $36.48.
The index has bounced back up since breaking below 14,000 in late July, but remains one of the worst performing global indexes so far this year, hurt by slumping oil prices and worries about slowing economic growth and stock market turmoil in China.
Auto parts whiz Magna International Inc rose 2.5% to $72.83 and convenience store operator Alimentation Couche-Tard gained 2% to $59.51.
On the economic calendar, the RBC Canadian Manufacturing Purchasing Managers' index, a measure of manufacturing business conditions, rolled in for June this morning.
At 50.8 in July, the seasonally adjusted PMI dipped from June's six-month high of 51.3 but remained above the neutral 50.0 threshold.
The latest reading was still stronger than the average for 2015 so far (49.9), and signaled a marginal upturn in manufacturing sector business conditions.
ON BAYSTREET
The TSX Venture Exchange regressed 2.56 points to 591.75
Eight of the 14 TSX subgroups were lower midday, as metals and mining issues were off 2.5%, gold dulled in price 1.8%, and telecoms backtracked 1.4%.
The half-dozen gainers were led upwards by consumer staples, progressing 1.7%, consumer discretionaries, up 1.3%, and health-care, haler by 1.1%.
ON WALLSTREET
U.S. stocks struggled for direction on Tuesday as investors eyed a continued sharp decline in Apple and a slight recovery in oil prices after the prior day's plunge.
The Dow Jones industrial average fell backward 3.88 points to 17,594.32, with Microsoft leading advancers and Apple the greatest decliner.
The S&P 500 fell one point to 2,097.04, with utilities leading six sectors lower and materials the greatest advancer.
The NASDAQ index slipped 8.43 points to 5,106.95
The major averages traded in a range, fluctuating around the flatline. The energy sector edged higher as oil gained, while Apple extended losses to plunge more than 3%.
The iPhone maker's stock is in correction territory after plunging below its 200-day moving average on Monday. Trade volume was about 62 million in late morning trade, surpassing its 30-day average volume of 47 million shares. Shares of suppliers Skyworks, Cirrus,
Vishay and Avago all plunged in sympathy.
In corporate news, Regeneron Pharmaceuticals jumped to an all-time high after the soundly topping estimates on both the top and bottom line. The firm raised its U.S. sales growth forecast for its macular degeneration drug Eyelea to 45-50% from the prior 30-35%
After the market close Disney, Zillow, Activision Blizzard, Cerner, LendingClub, PioneerNatural Resources, Dreamworks, Etsy, First Solar and Newfield Exploration are due after the bell.
On the data front, June factory orders figures showed an increase of 1.8%. On Wednesday, markets will be watching for the ADP employment report, which comes ahead of the labour report on Friday.
After the market close Activision Blizzard, Cerner, LendingClub, Pioneer Natural Resources, Dreamworks, Etsy, First Solar and Newfield Exploration are due after the bell.
Prices for 10-year U.S. Treasuries gained ground, lowering yields to 2.19% from Monday’s 2.21%. Treasury prices and yields move in opposite directions.
Oil prices hiked 92 cents a barrel to $46.09 U.S.
Gold prices moved higher $1.60 to $1,091.00 U.S. an ounce.
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