Canadian equities clung to a narrow trading range Wednesday, as profits from miner Teck Resources took a hit.
The S&P/TSX Composite index was down 29.11 points to approach noon at 11,437.84
The Canadian dollar added 0.35 cents to 98.18 cents U.S.
Class B shares of Teck stumbled 7%, after the diversified mining company posted a 64% lower second-quarter profit, from a year ago.
Encana Corp. shares fell 2.5% after the Calgary-based natural gas company reported it had swung to a $1.5-billion second-quarter loss, from a profit of $383 million a year ago.
ON BAYSTREET
The TSX Venture Exchange was up 0.36 points to 1,166.83. The Nasdaq Canada index slid 0.04 points to 329.21.
All but four of the 14 Toronto subgroups were down by lunch time. Metals and mining dropped 2.1%, global base metals were 1.2% weaker and utilities let go of 0.8%.
The four gainers were led by gold, up 1.8%, materials, ahead 0.5%. and real-estate, progressing 0.4%.
ON WALLSTREET
U.S. stocks were mixed Wednesday, as investors sorted through a batch of earnings reports, including solid results from Caterpillar and Boeing, and a big miss from Apple.
The Dow Jones industrial average grew 45.07 points to 12,662.39, with Caterpillar leading the way. Caterpillar, one of the Dow's most heavily weighted stocks, is closely watched as a gauge for global economic strength. The manufacturing giant beat expectations and raised its outlook for the year.
Boeing was also a big gainer in the Dow. The airplane maker also topped forecasts and boosted its guidance for the year.
The S&P 500 retreated 2.19 points to 1,336.12. Disappointments from Netflix and TripAdvisor pressured the broad index, but positive results from chipmakers Altera and Broadcom helped limit the losses.
The Nasdaq doffed 8.07 points to 2,854.92, dragged lower by Apple's weak earnings. Apple is the biggest component of the tech-heavy index by far, and shares were down nearly 5%.
Ford's second-quarter profit dropped 57% to $1 billion U.S., hurt by a loss in the company's European operations. Shares of Ford were trading lower.
PepsiCo shares rose after the reported better-than-expected earnings before the opening bell. But, like many global companies, its revenue was hurt by unfavorable currency exchange rates.
Nasdaq, which has been in the spotlight since Facebook's botched market debut in May, also reported results. The exchange operator's revenue and profit rose slightly during the quarter and topped expectations. Shares were higher.
Numbers are due from Visa and Zynga after the bell.
Shares of Symantec jumped after the security software company ousted CEO Enrique Salem, and named chairman Steve Bennett as his replacement.
Economically speaking, a report from the Census Bureau showed that new home sales for June fell 8.4% to an annual rate of 350,000 units from 382,000 in May. Sales were expected to have come in at an annual rate of 373,000 units, according to a survey of economists by Briefing.com.
The price on the benchmark 10-year U.S. Treasury lost a bit ground, raising yields to 1.41% from Tuesday’s 1.40%. Treasury prices and yields move in opposite directions.
Oil for September delivery erased $1.20 to $87.30 U.S. a barrel.
Gold futures for August delivery rose $23.80 to $1,600 U.S. an ounce.
