Equities in Canada’s biggest centre fell on Tuesday as gold miners' shares plunged on major shutdowns and the precious metal hit its lowest since Britain's vote to leave the European Union in June.
The S&P/TSX Composite fell 83.5 points to greet noon at 14,605.54
The Canadian dollar dropped 0.22 cents to 76 cents U.S.
Among gold plays, Barrick Gold lost 5.8% to $21.47, and Goldcorp fell 6.1% to $19.41. Both miners, among the world's largest, are dealing with forced closures.
A string of other gold miners also featured among the heaviest weights, with Yamana Gold Inc down 8% at $5.18 and Kinross Gold off 7.1% at $5.01.
The most influential gainers included Canadian National Railway, which rose 1.1% to $87.37, and Suncor Energy, which advanced 0.6% to $36.47.
ON BAY STREET
The TSX Venture Exchange fell 20.91 points, or 2.6%, to 771.50
The 12 TSX subgroups were evenly divided between gainers and losers. Information technology prospered 0.8%, with consumer discretionary and industrials hiking 0.4%.
The half-dozen laggard were weighed heavily by gold, down 7.3%, materials, sinking 5.3%, and real-estate, worse off by 0.7%.
ON WALL STREET
U.S. stocks alternated between gains and losses on Tuesday as investors digested data from the International Monetary Fund, remarks from a Federal Reserve official and kept an eye on the latest developments from Deutsche Bank.
The Dow Jones Industrials remained negative 31.64 points to 18,222.21, with 3M leading decliners and Goldman Sachs leading advancers.
The S&P 500 slid 4.69 points to 2,156.51, with utilities leading 10 sectors lower and financials the only advancer.
The NASDAQ Composite moved forward, however, 1.47 points to 5,302.34
Investors also watched Deutsche's stock, after it sent markets around the world for a roller-coaster ride last week as worries that it would not be able to pay its massive fine weighed on investor sentiment. On Tuesday, the German banking giant's U.S.-listed shares rose more than 1%.
A German newspaper reported over the weekend that Deutsche's CEO John Cryan would be in Washington D.C. to negotiate a settlement with the U.S. government over its $14-billion fine.
Figures released by the International Monetary Fund showed overall global growth is expected to expand at 3.1 percent in 2016. The IMF's "World Economic Outlook", released Tuesday, also noted that that figure was unchanged from its July forecast.
But advanced economies, which include the United States, will slow this year to 1.6% growth, compared to 2.1% last year and a July IMF forecast of 1.8%.
Prices for the 10-year Treasury fell, raising yields to 1.66% from Monday’s 1.62%. Treasury prices and yields move in opposite directions.
Oil prices regained seven cents to $48.88 U.S. a barrel
Gold prices tumbled $32.90, or 2.5%, to $1,278.90 U.S. an ounce.
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