Stock markets in Toronto remained positive, but had pared gains by mid-afternoon Wednesday after losses in energy and mining stocks reduced earlier gains.
The S&P/TSX composite index was up 11.94 points to close at 14,502.99
The Canadian dollar gained 0.02 cents to 75.83 cents U.S.
Metals and mining took the biggest hit of the bunch, as Capstone Mining capsized seven cents, or 7.8%, to 83 cents, while First Quantum Minerals fell 65 cents, or 6.4%, to $9.48.
Gold stocks were also worse off on day, Lake Shore Gold losing six cents, or 5.6%, to $1.02, while Iamgold loosed 10 cents, or 5.4%, to $1.74.
Among gainers, health-care proved the leader, as Valeant Pharmaceuticals gained $3.87, or 1.1%, to $346.32.
Information technology stocks were worthy of mention as Constellation Software took on $13.50, or 2.3%, to $576.93, while DragonWave gained a penny, or 2.9%, to 36 cents.
Student Transportation was the most actively traded stock, falling in price 34 cents, or 5.7%, to $5.59, on 5.5 million shares.
On the economic calendar, Statistics Canada says exports increased 6.3% in June while imports declined 0.6%. This means Canada's merchandise trade deficit with the world narrowed from $3.4 billion in May to $476 million in June.
ON BAYSTREET
The TSX Venture reversed 5.03 points to 584.85
Eight of the 14 TSX subgroups were lower, with metals and mining down 3%, gold off 1.7%, and materials sliding 1.5%.
The half-dozen gainers were led by health-care, up 1.3%, information technology, going up 0.8%, and consumer staples, improving 0.6%.
ON WALLSTREET
U.S. stocks closed off session highs on Wednesday as a renewed decline in oil and disappointment on Disney earnings pressured stocks, amid mixed signals on the timing of an interest rate hike.
The Dow Jones industrial average moved lower 10.22 points by the close to 17,540.47
The S&P 500 added 6.53 points to 2,099.85
The NASDAQ index spiked 34.40 points to 5,139.95, trimming an earlier 1% jump from a reversal in Apple and surge in Netflix.
Stocks attempted mild gains after coming off highs as oil reversed to fall more than 1% lower. Energy was one of two lagging sectors in the S&P 500, while Chevron added to Disney's pressure on the Dow
Shares of Disney plunged more than 9% after missing on revenue in its earnings report after the close Tuesday. The stock was the greatest blue chip decliner, weighing about 70 points on the index.
Disney had a solid run up to its earnings report, with 17% gains year-to-date.
Netflix traded about 2.6% higher after the company late Tuesday confirmed plans to expand into Asia. Guggenheim Partners also initiated coverage with a "buy" rating and a price target of $160, a 30 percent upside.
Shipping company Matson led advancers with a 6% gain following good earnings.
In economic news, the ADP report came in at 185,000, below expectations for 215,000 private-sector payrolls.
Earlier, futures fluctuated ahead of the ADP payroll data, which is not seen as an exact preview for Friday's jobs report but it can give directional hints, and the market watches it for any big surprises.
Meanwhile, economists forecast 223,000 non-farm payrolls in the government's employment report Friday, and that is one of the final key pieces of data the Fed will review before it September meeting.
The July trade report posted a deficit of $43.84 billion U.S.
Prices for 10-year U.S. Treasuries sagged, boosting yields to 2.27% from Tuesday’s 2.22%. Treasury prices and yields move in opposite directions.
Oil prices deducted 57 cents a barrel to $45.17 U.S.
Gold prices docked $7.10 to $1,083.60 U.S. an ounce.
Related Stories
