Stocks in Canada’s largest market saw their gains wither by Wednesday’s closing bell, as resource stocks moved in a different direction.
The S&P/TSX Composite Index ended up in the red 15.37 points to conclude Wednesday at 15,626.73
The Canadian dollar dropped 0.17 cents at 75.42 cents U.S.
Gold stocks took the heaviest blows, as Barrick Gold lost 59 cents, or 3.3%, to $17.12, after posting fourth-quarter results, while New Era Minerals shares were unchanged at three cents.
Among other resource stocks, First Quantum ditched two cents a share to $13.81, while Agnico Eagle Mines sank 32 cents to $55.28.
In consumer staples, Loblaw Companies folded 30 cents to $66.66, while Saputo Inc. lost nine cents to $40.81.
In health-care stocks, Cronos Group soared 87 cents, or 3.3%, to 26.92, while cannabis competitor Canopy Growth gained $2.38, or 4.1%, to $60.70.
Energy stocks also moved up, as Enbridge picked up 38 cents to $47.62, while Vermilion Energy progressed 57 cents, or 1.8%, to $32.20.
In consumer discretionary stocks, Canada Goose Holdings acquired 24 cents to $78.29, while Magna International inched ahead three cents to $67.78.
ON BAYSTREET
The TSX Venture Exchange crept up 2.23 points to 609.99
All but three of the 12 TSX subgroups were negative midday, as information technology faded 0.8%, while consumer staples and industrials each sank 0.5%.
The three gainers were co-led by energy and health-care, each up 1.6%, while consumer discretionary stocks poked up 0.1%.
ON WALLSTREET
Stocks rose on Wednesday as investors grew hopeful that Chinese and U.S. trade authorities would reach an agreement before a deadline in early March.
The Dow Jones Industrial Average finished Wednesday higher by 117.51 to 25,543.27, as Walgreens Boots Alliance and 3M outperformed. Wednesday also marked the Dow's second straight day of gains.
The S&P 500 added 8.3 points to 2,753.03, led by gains in the industrial and energy sectors.
The NASDAQ Composite picked up 5.76 points to 7,420.38
Energy stocks got a boost from higher oil prices. The S&P 500 energy sector gained more than 1%, led by Newfield Exploration, Apache and Devon Energy
Shares of Hilton Worldwide jumped more than 6% after the company reported better-than-expected earnings. The hotel operator said higher hotel-room rates boosted its bottom line.
Freeport-McMoRan surged nearly 7% following an upgrade by an analyst at Morgan Stanley. The analyst said the stock could get a bounce from higher copper prices.
President Donald Trump suggested Tuesday that he might be open to postpone the current deadline of early March so that both sides can reach a deal.
Prices for the benchmark 10-year U.S. Treasury lost ground, raising yields to 2.71% from Tuesday’s 2.68%. Treasury prices and yields move in opposite directions.
Oil prices gained 86 cents to $53.96 U.S. a barrel.
Gold prices lost $5.10 to $1,308.90 U.S. an ounce.
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