Equity markets in Canada’s biggest centre fell on Wednesday as losses for financial and consumer staple issues offset gains for materials, energy and health-care stocks.
The S&P/TSX Composite Index eased back 62.58 points to greet noon at 12,919.52
The Canadian dollar faded 0.31 cents to 74.26 cents U.S.
Among bank stocks, Bank of Nova Scotia fell 1.1% to $57.27 a share and Royal Bank of Canada declining 1.1% to $69.39.
Consumer staple stocks also dragged. Loblaw Companies fell 2.1% to $68.69, while Alimentation Couche-Tard was down 1.9% at $60.68.
However, energy stocks rose, with Canadian Natural Resources rising 1.6% to $29.24.
Shares of Valeant Pharmaceuticals International rebounded more than 3% to $90.88.
Media reports surfaced that a U.S. regulatory probe of the drugmaker is focused on its relationship with specialty pharmacy Philidor RX Services and was triggered by Valeant's own request that regulators investigate a short seller's allegations.
Label and packaging maker CCL Industries Inc rose nearly 10% to $230.32 a share following news it is buying U.S.-based Checkpoint Systems Inc for about $422 million.
Shares of Potash Corporation of Saskatchewan rose 4.1% to $24.12, while Barrick Gold was up 1.1% to $18.02.
ON BAYSTREET
The TSX Venture Exchange picked up 3.01 points to 544.7
Seven of the 13 TSX subgroups were lower midday, as consumer staples faded 1.8%, information technology backtracked 1.4%, and consumer discretionary stocks slid 1.1%.
The half-dozen gainers were pulled upwards by metals and mining, leaping 9.3%, materials, better by 2.4%, and gold, 1.6% to the good.
ON WALLSTREET
U.S. stocks traded mostly lower Wednesday after their best start to a month in just over three years. Oil and data remained in focus ahead of Friday's jobs report.
The Dow Jones Industrial average tailed off 45.72 points to 16,819.36, after a leap of more than 300 points Tuesday. IBM contributed the most to gains in the Dow, while Nike and McDonald's weighed.
The S&P 500 subtracted 2.33 points to 1,976.02. Energy and financials were among the top S&P 500 advancers, while materials lagged
The NASDAQ index dipped 19.11 points to 4,670.48
The ADP employment report showed U.S. private employers added a more-than-expected 214,000 jobs in February. Treasury yields edged higher after the report.
Prices for the 10-year Treasury fell, boosting yields to 1.86% from Tuesday’s 1.82%. Treasury prices and yields move in opposite directions.
Oil prices gained 14 cents a barrel to $34.54 U.S.
Gold prices grew $7.46 to $1,239.61 U.S. an ounce.
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