Equities in Canada’s largest centre fell to a fresh one-week low on Wednesday as lower oil and metal prices weighed on energy and mining stocks.
The S&P/TSX Composite fell 47.52 points to open at 14,655.92.
The Canadian dollar slipped 0.19 cents to 77.56 cents U.S.
Performance Sports Group said it was facing an investigation by U.S. and Canadian securities regulators, two days after the sports equipment maker said it was conducting an internal probe into its financials. The company said in a filing that it was subject to inquiries by the U.S. Securities and Exchange Commission as well as the Canadian securities regulator.
Performance shares tumbled 26 cents, or 9.6%, to $2.44.
CIBC cut the target price on Avigilon Corp. to $14.00 from $20.00 as the company reported second-quarter results and commentary that should cause the stock to move lower.
Aviglion shares clicked 15 cents, or 1.5%, higher to $10.13.
Barclays raised the target price on Canadian Imperial Bank of Commerce to $93.00 from $87.00 based on successfully managing down risk and costs.
CIBC shares picked up 20 cents, or $100.20.
CIBC cut the target price on Dream Unlimited to $10.75 from $11.25 based on the second quarter results and a conventional view of realized pricing, margins, and volumes
Dream Unlimited units hesitated eight cents each to $16.63.
ATS Automation Tooling Systems Inc reports Q1 earnings, expecting 13 cents per share. ATS got a boost of 43 cents, or 4.4%, to $10.25.
Roxgold Inc. expects a Q2 loss of one cent per share. Roxgold shares were static at $1.61.
ON BAYSTREET
The TSX Venture Exchange fell 3.52 points to 835.03
All but two of the 13 subgroups were down in the first hour, as gold descended 1.3%, while materials were off 1.2%, and energy dipped 0.8%.
The two gainers were health-care, up 2.8%, while industrials eked ahead 0.3%.
ON WALLSTREET
U.S. equities fell on Wednesday, led lower by utilities and telecommunications, as investors geared up for the release of the minutes from the Federal Reserve's July meeting.
The Dow Jones Industrials dropped 53.35 points to 18,498.67, with Apple and Home Depot sinking the most.
The S&P 500 slid 6.07 points to 2,172.08, with utilities falling 0.8%.
The NASDAQ Composite dipped 16.08 points to 5,211.03
Wall Street also digested a number of quarterly reports before the bell, including Lowe's and Target.
The Fed minutes are scheduled for release at 2 p.m. ET. Investors will be looking for signs and clues about when the next rate hike will be coming, particularly after hawkish comments made by some Fed officials.
Market expectations for a September rate hike remained at 18% Wednesday
Prices for the 10-year Treasury gained, lowering yields to 1.57% from Tuesday’s 1.58%. Treasury prices and yields move in opposite directions.
Oil prices fell 39 cents a barrel to $46.19 U.S.
Gold prices slumped $8.40 to $1,348.50 U.S. an ounce.
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