The Toronto stock market cleared the breakeven point Tuesday – albeit with difficulty -- as metals prices fluctuated, and several key sectors moved erratically.
The S&P/TSX composite index nosed up 21.04 points to end Tuesday at 12,391.23
The Canadian dollar moved down 0.19 cents to 101.59 cents U.S.
The base metals sector was unchanged as the December contract for copper rose a penny to $3.80 U.S. a pound. Copper is viewed as an economic barometer as the metal is used in so many industries. Teck Resources ducked back eight cents in price to $28.96
TSX energy stocks gained while Imperial Oil added six cents to $45.65, Suncor grew 27 cents to $32.91, and Canadian Natural Resources gained 18 cents to $31.13.
Information technology stocks applied some muscle Tuesday, with Research In Motion leaping 44 cents, or 5.7%, to $8.13.
Among industrial issues, Westport Innovations led the way higher, gaining $1.29, or 4.7%, to $29.00. Canadian Pacific Railway had a strong day, too, tacking on $1.56, or 1.9% to $84.20.
In corporate developments, CML HealthCare Inc. announced it is selling its diagnostic imaging business in Alberta to Canada Diagnostic Centres for $17 million. Shares of CML were up three cents to $8.85.
ON BAYSTREET
The TSX Venture Exchange dipped 6.92 points to 1,331.78
Among the 14 Toronto subgroups, gainers edged losers on the day seven to six. Information technology was the runaway winner, gaining 1.9%, while industrials and energy each acquired 0.6%.
The half-dozen laggards were weighed mostly by materials, down 0.7%, while gold lost 0.5% and health-care issues faded 0.3%. Global base metals, as mentioned, were flat on the day.
ON WALLSTREET
American stocks crept lower Tuesday as a lack of conviction kept investors on the sidelines.
The Dow Jones Industrial average tailed off 32.75 points to finish Tuesday at 13,482.40
The S&P 500 eked out a gain of 0.92 points to 1,445.41, while the tech-rich Nasdaq added 6.51 points to 3,120.04
In the United States, automakers released September sales figures. Chrysler, which is not publicly traded, reported a 12% year-over-year increase in U.S. sales last month. It was also the best September sales figure for that company since 2007.
Toyota Motor also beat expectations, reporting a sales jump of 41.5% from year-ago levels. General Motors reported only a 1.5% increase from year-earlier, while Ford sales slipped 0.1%.
Analysts say that while a major piece of economic news, such as Friday's employment report from the U.S. Labor Department, or progress in Europe could bring investors back into the market, some say that even those events might not be enough.
Shares of MetroPCS's surged nearly 18% after Deutsche Telekom confirmed it was in talks with the struggling wireless carrier about possibly merging with its T-Mobile USA unit.
Zillow's stock lost ground after the Securities and Exchange Commission released a letter that questioned why the real-estate site didn't disclose certain sales data and updated information about its accounting methods
Shares of clothing retailer Express sank more than 22% in price after the company lowered its fiscal third-quarter expectations.
The price on the benchmark 10-year U.S. Treasury gained back lost ground, lowering yields to 1.61% from Monday’s 1.62%. Treasury prices and yields move in opposite directions.
Oil prices lost 76 cents to $91.72 U.S. a barrel.
Gold prices lost $7.70 to $1,775.60 U.S. an ounce.
