The Toronto Stock Exchange’s main index showed a triple-digit gain within the first 10 minutes of trading Wednesday but that quickly evaporated.
The S&P/TSX composite index moved into negative country 18.27 points to greet noon at 13,132.66
The Canadian dollar moved up 0.18 cents to 75.15 cents U.S.
Gold proved the main agent of this demise, primarily B2Gold, fading 10 cents, or 6.4%, to $1.46, while Rubicon Minerals dropped six cents, or 6.2%, to 91 cents.
Metals and mining stocks also fell behind, as First Quantum Minerals swooned 41 cents, or 6.2%, to $6.19, and HudBay Minerals eased 32 cents, or 5.2%, to $5.81.
Energy stocks tried to buffer the situation, as Surge Energy did just that, 22 cents, or 10.4%, to $2.33, while Secure Energy Systems grew 67 cents, or 8.2%, to $8.85.
Tech stocks also shone, as Absolute Software climbed 23 cents, or 2.9%, to $8.08, while Descartes Systems Group took on 51 cents, or 2.4%, to $21.48.
ON BAYSTREET
The TSX Venture Exchange added 1.88 points to 528.42
Eight of the 14 TSX subgroups were lower by noon, as gold trundled lower 3.3%, metals and mining dropped 2.6%, and materials slid
1.8%.
The half-dozen gainers were led by energy and information technology stocks, each up 0.9%, while telecoms improved 0.5%.
ON WALLSTREET
U.S. stocks jumped Wednesday, attempting for a second day to bounce from a recent plunge, as investors eyed a solid durable-goods report and stimulus in China.
The Dow Jones industrial average stayed positive 195.35 points, or 1.3%, to break for lunch at 15,861.79, with Merck leading all blue chips except Boeing higher.
The S&P 500 hiked 22.05 points, or 1.2%, to 1,889.66, with information technology leading all 10 sectors higher.
The NASDAQ index recovered 54.11 points, or 1.2%, to 4,560.60.
On the data front in the U.S., durable good orders for July rose 2.2%, above the expected 0.1% rise, but down from the 3.4% gain last month.
Earlier, stocks briefly attempted a recovery to morning highs after New York Federal Reserve President William Dudley said in a question-and-answer session that a September rate hike looks "less compelling."
Overnight, China's central bank said it had injected 140 billion yuan ($21.8 billion U.S) into the interbank money market via short-term liquidity operations. However, China's benchmark Shanghai Composite finished down 1.3% after fluctuating throughout the day.
The Peoples' Bank of China fired a double-barreled easing shot on Tuesday—lowering interest rates and the reserve requirement ratio by 25 basis points and 50 basis points respectively—but this was not enough to reassure markets of slowing growth fears.
Prices for 10-year U.S. Treasuries dropped sharply, raising yields to 2.13% from Tuesday’s 2.08%. Treasury prices and yields move in opposite directions.
Oil prices fell 27 cents a barrel to $39.04 U.S.
Gold prices dropped $14.60 to $1,123.70 U.S. an ounce.
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