Stocks in Canada’s largest centre fell on Tuesday as lower commodity prices weighed on energy and mining stocks, while industrials also fell after one of the country's major railways said it expected revenue to fall in the second quarter.
The S&P/TSX Composite fell 27.89 points to open Tuesday at 13,987.25
The Canadian dollar dropped 0.07 cents to 78.02 cents U.S.
Dream Office REIT said it would sell a 50% interest in Scotia Plaza, Canada's second-tallest office building, to KingSett Capital and AIMCo.
Dream units gained 37 cents, or 1.9%, to $19.58.
Canaccord Genuity raised the target price Athabasca Oil to $2.25 from $2.00. Athabasca shares gained a penny to $1.42.
Canadian Pacific announced it was expecting Q2 revenues to fall by 12% over the prior-year quarter, besides projecting adjusted diluted earnings per share of approximately $2.00. CP shares tumbled $4.45, or 2.7%, to $158.65 early Tuesday.
ON BAYSTREET
The TSX Venture Exchange dipped 1.91 points to 713.49
Nine of the 13 subgroups were lower in the session’s first hour, as metals and mining issues declined 1.4%, gold was off 1.3%, and materials slid 1.1%.
The four gainers were led by consumer staples, up 0.4%, information technology, picking up 0.3%, and real-estate, up 0.2%.
ON WALLSTREET
U.S. stocks traded higher Tuesday, amid declines in oil prices, as investors eyed the latest Brexit polls.
The Dow Jones Industrials gained 129.71 points to 17,804.87, with Microsoft leading advancers and McDonald's the greatest decliner.
The S&P 500 nicked up 1.92 points at 2,085.17, with information technology leading five sectors higher and energy the greatest laggard.
The NASDAQ moved lower 0.55 points to 4,836.66
The European Union referendum is set for Thursday in Britain. Ahead of that, U.S. Federal Reserve Chair Janet Yellen kicks off her two-day testimony before Congress with a session scheduled for Tuesday morning before the Senate Banking Committee.
Prices for the 10-year Treasury moved slightly lower, raising yields to 1.68% from Monday’s 1.67%. Treasury prices and yields move in opposite directions.
Oil prices shed $1.07 a barrel to $48.30 U.S.
Gold prices dropped $17.30 to $1,274.80 U.S. an ounce.
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