Equities in Canada’s largest centre fell sharply shortly after the open, tracking global markets roiled by fresh tensions over North Korea after it fired a missile over northern Japan.
The S&P/TSX Composite Index tumbled 74.02 points to begin Tuesday at 14,978.01
The Canadian dollar took on 0.15 cents to 80.01 cents U.S.
Bank of Nova Scotia reported stronger than expected third-quarter results, driven by a robust performance of its domestic and international operations.
Scotiabank shares slid 74 cents, or 1%, to $76.46.
Bank of Montreal reported third-quarter earnings which were ahead of expectations, driven by strong growth of its Canadian retail and wealth management businesses.
BMO shares stumbled $2.23, or 2.4%, to $90.20.
Home Capital Group Inc named Canaccord Genuity Group veteran Brad Kotush as its chief financial officer, effective September 1.
Home shares were unchanged at $13.04.
Canaccord Genuity raised the rating on Toromont Industries to buy from hold, raises target price to $58.00 from $50.00. Toromont shares gained $1.19, or 2.4%, to $51.06.
Eight Capital cut the rating on Polaris Materials to neutral from buy, and raised price to $2.79 from $1.15. Polaris shares nosed up a cent to $2.71.
On the economic schedule, Statistics Canada reported that its industrial product price index declined 1.5% in July, mainly due to lower prices for motorized and recreational vehicles, while its raw materials price was down 0.6% in the same month, mostly attributable to lower prices for metal ores, concentrates and scrap.
ON BAYSTREET
The TSX Venture Exchange gained 2.59 points to 779.7.
The 12 TSX subgroups were evenly divided between gainers and losers, as gold shone 3.4% brighter, materials were mightier 2.3%, and industrials eked higher 0.3%.
The half-dozen laggards were weighed most by energy, down 1%, consumer discretionary stocks, sliding 0.6%, and financials, descending 0.5%.
ON WALLSTREET
U.S. stocks fell on Tuesday as tensions between the U.S. and North Korea were reignited after North Korea fired a missile over Japan.
The Dow Jones Industrials dropped 53.54 points to 21,754.86, with Goldman Sachs contributing the most to the losses.
The S&P 500 dipped 9.35 points to 2,434.89, with financials falling 1% to lead decliners.
The NASDAQ lost 23.08 points to 6,259.94
A South Korean military official told the media that the missile was fired around 6:00 a.m. local time on Tuesday. The official said that the missile flew for about 2,700 kilometres, reaching a maximum altitude of 550 kilometres.
In economic news, the S&P CoreLogic Case-Shiller home price index rose slightly from May to June. Consumer confidence hit 122.9 in August, higher than the expected number of 120.3.
Prices for the benchmark 10-year Treasury note were up sharply, lowering yields to 2.11% from Monday’s 2.16%. Treasury prices and yields move in opposite directions.
Oil prices backtracked 39 cents to $46.18 U.S. a barrel
Gold prices took on $10.20 to $1,325.50 U.S. an ounce.
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