Canadian stocks lost strength on Thursday, as suspense continues over what central banks would do (or not do) to bail out the world economy.
The S&P/TSX Composite index dipped 56.48 points to finish at 12,062.51.
The Canadian dollar weakened a quarter of a cent to 100.62 cents U.S.
Shares of Potash Corp. of Saskatchewan fell $1.07, or 2.5%, to $41.16
Commodity prices headed higher, though Suncor Energy declined 50 cents to $31.23.
The base metals sector lost ground with the September copper contract four cents higher at $3.50 U.S. a pound. HudBay Minerals gave back 15 cents to $8.59.
Financials also weighed on the TSX as Manulife Financial fell 27 cents to $10.89. Royal Bank ducked back 28 cents to $53.20, and Bank of Montreal dipped 19 cents to $57.45.
Elsewhere, CGI Group gained a penny to $25.84. In the gold patch, Goldcorp Inc. shed nine cents to $39.87, while rival Barrick Gold tacked on 48 cents to $37.76
On the economic ledger, Statistics Canada says those drawing regular Employment Insurance benefits continued its downward trend, edging down to 507,600 from 512,100 in May.
ON BAYSTREET
The TSX Venture Exchange eked up 2.42 points to 1,248.08. The Nasdaq Canada gained 3.05 points to 351.15.
Of the 14 Toronto subgroups, nine were lower, weighed by energy, down 1.3%, metals and mining, sliding 1.1%, and global base metals, subtracting 0.9%.
The five gainers were led by health-care, advancing 1.1%, information technology and telecoms, picking up 0.6% each.
ON WALLSTREET
Stocks fell Thursday, as Hewlett-Packard dragged down the Dow Jones Industrial Average after reporting disappointing sales and revenue forecasts.
The Dow Jones industrial average fell 115.30 points to close at 13,057.50
The S&P 500 index swooned 11.74 points to 1,401.75, while the tech-heavy Nasdaq Composite Index shrank 20.27 points to 3,053.40.
HP shares dropped nearly 8%, making them by far the biggest loser in the Dow.
Shares of Big Lots tumbled more than 23% after the retailer reported earnings that fell far short of forecasts and lowered its guidance.
Shares of Guess plunged almost 23% after the retailer reported earnings that missed expectations and cut its outlook for the year.
But there some winners. Organic food company Hain Celestial Group was up about 19%. Hain announced Wednesday that it would acquire U.K.-based Premier Foods for $316 million U.S. and also reported strong earnings.
Manufacturing hit a nine-month low in China and contracted across the euro-zone for the seventh month in a row.
Investors will be keeping tabs on Europe as French President Francois Hollande and German Chancellor Angela Merkel meet to discuss Greece. Greek Prime Minister Antonis Samaras has reportedly been pushing for a two-year extension of the country's bailout program.
Investors also read over the latest reading on the U.S. labour market, with a report on unemployment claims showing a surprise increase for the latest week.
Wall Street trading volume is expected to stay light for the rest of August. U.S. stocks ended mixed Wednesday, as minutes from the Federal Reserve's July meeting sparked hope for further stimulus measures.
The minutes show the central bank is considering two key measures to boost the U.S. economy. Investors are likely to stay focused on the Fed, with attention on the Kansas City Fed's annual symposium in Jackson Hole, Wyo. next week.
On matters economic, the U.S. Labor Department released its weekly report on first-time unemployment claims Thursday, revealing an increase to 372,000 from the previous week's revised figure of 368,000. That was more than the 365,000 that economists had expected.
The Census Bureau reported new home sales rose 3.6% to a seasonally adjusted annual rate of 372,000 in July. That's better than the 368,000 economists had expected.
The price on the benchmark 10-year U.S. Treasury gained, pushing the yield down to 1.67% from Wednesday’s 1.72%. Treasury prices and yields move in opposite directions.
Oil for September delivery fell $1.20 to $96.06 U.S. a barrel.
Gold futures for December delivery rose $32.30 to $1,672.80 U.S. an ounce.
