Equities in Canada’s biggest centre opened lower on Wednesday following another volatile trading session in Asia, with financial names exerting the biggest drag on the market.
The S&P/TSX composite index plummeted 113.53 points to open at 14,080.34
The Canadian dollar dumped 0.16 cents at 76.44 cents U.S.
Greece's government is halting activity at Eldorado Gold’s mine operations in northern Greece because it has violated some terms, the country’s energy minister said on Wednesday.
The investment by the Vancouver-based company in the Halkidiki region has been controversial and seen as a test case for Greece's will to attract foreign investment after years of austerity-induced recession.
Eldorado shares faltered 48 cents, or 8.8%, to $4.98.
CIBC raised the rating on Alamos Gold Inc to outperform from sector perform following the company’s solid second-quarter earnings.
Alamos gained 43 cents, or 8.8%, to $5.30.
AcuityAds Holdings reports Q2 earnings today, expecting a loss of four cents per share. Acuity shares moved ahead seven cents, or 7.1%, to $1.05.
ON BAYSTREET
The TSX Venture gained 1.06 points to 564.48.
All but two of the 14 TSX subgroups were lower, as global base metals doffed 1.5%, energy dropped 1.4%, and metals and mining lost 1.2%
The two gainers were gold, up 2.3%, and materials, up 0.5%
ON WALLSTREET
U.S. stocks opened sharply lower on Wednesday after a wild trading session in China sent other Asian markets down and as Wall Street awaited the release of the Federal Reserve's July meeting minutes.
The Dow Jones industrial average dumped 126.64 points to 17,384.70, led lower by UnitedHealth Group and with Home Depot and McDonald's as the only advancers.
The S&P 500 slid 15.52 points to 2,081.40, as materials led all sectors lower.
The NASDAQ index fell 35.84 points to 5,023.50,
Investors also took in a slew of news, as Lowe's reported earnings per share that missed expectations, but its revenue and same-store sales came in above forecasts. The company's full-year guidance also came in better than expected.
Staples also reported earnings per share of 12 cents U.S., matching estimates, on revenue that was essentially in line with expectations, while Hormel Foods beat earnings per share estimates, but came in light on revenue.
Furniture make La-Z-Boy posted earnings per share of 27 cents U.S. a share, beating expectations, while same-store sales rose 5.3%
Analog Devices reported 77 cents U.S. earnings per share for last quarter, beating estimates, while revenue also came in better than expected.
Target also posted better-than-expected earnings, beating earnings per share estimates by 11 cents U.S., sending the stock up over 4%.
L Brands, NetApp and Popeyes Louisiana Kitchen are all scheduled to report after the bell.
Wall Street also weighed the latest reading from the Consumer Price Index, which rose 0.1% in July versus the expected 0.2% increase, the U.S. Labor Department said.
The department added that core CPI also rose 0.1%.
China's Shanghai Composite closed 1.2% higher overnight after falling over 4% at its session lows.
Prices for 10-year U.S. Treasuries slipped, raising yields to 2.21% from Tuesday’s 2.19%. Treasury prices and yields move in opposite directions.
Oil prices fell 39 cents a barrel to $42.23 U.S.
Gold prices improved $7.80 to $1,124.70 U.S. an ounce.
Related Stories
