Shares in Canada’s largest stock market were virtually unchanged in volatile trading on Wednesday as concerns about the crisis in Ukraine weighed on sentiment and weakness in the price of U.S. crude oil was a drag on the shares of energy producers.
The S&P/TSX composite index was down but 0.66 points to greet noon at 15,253.57
The Canadian dollar slipped 0.01 cents at 91.53 cents U.S.
Investors digested news that Ukraine had denounced Russia's dispatch of a humanitarian aid convoy as an act of unbounded cynicism, while the United Nations said the death toll in fighting had doubled in the last two weeks.
Worries about Ukraine as well as crises in the Middle East have led to volatile trading on the Toronto stock market over the past few weeks.
Financials declined, with Toronto-Dominion Bank slipping 0.2% to $56.54.
Shares of energy producers dropped in choppy trade as Canadian Natural Resources lost 0.6% to $45.45, and Encana gave back 1.3% to $23.39.
The gold-mining sector advanced 0.3%, as the bullion price rose. Goldcorp was up 1% at $31.81.
Black Diamond Group dropped 4.2% to $28.51 after the energy services provider reported quarterly results late on Tuesday.
Secure Energy Services shot up 14.6% to $27.58, after several brokerages raised their price targets on the stock a day after the company reported quarterly results.
Badger Daylighting tumbled 16.7% to $29.88 after it reported quarterly results. The stock showed the biggest percentage decline on the index.
On the economic front, July version of Canada's market-moving jobs report contained an error and would be restated, Statistics Canada said on Tuesday, pointing to the latest in a series of mistakes that have damaged its reputation in recent years.
ON BAYSTREET
The TSX Venture Exchange slipped 0.83 points to 997.88
Eight of the 14 Toronto subgroups were lower, as global base metals slid 0.7%, while metals and mining and consumer staples each gave back 0.4%.
The half-dozen gainers were led by health-care, better by 1.2%, while real-estate advanced 0.6%, and information technology gained 0.4%.
ON WALLSTREET
U.S. stocks rose on Wednesday, with the Dow turning positive for the year as investors sought bargains amid signs of easing tensions in Ukraine and Iraq, which overshadowed some weak reads on the retail sector.
The Dow Jones Industrials surged 86.38 points to 16,646.92
The S&P 500 added 11.04 points to 1,944.79. The NASDAQ composite hiked 35.08 points to 4,417.01.
Retail stocks were among the weakest of the day. Macy's Inc cut its full-year same-store sales outlook. The stock fell 5.1% to $56.74 U.S. as the S&P 500's biggest percentage decliner.
Kohl's Corp lost 2.9% to $54.32 U.S., while Nordstrom Inc slid 2.2% to $67.23 U.S. Both names are slated to report results on Thursday. Deere & Co fell 1.5% to $85.16 U.S. after it posted a lower quarterly profit on Wednesday and cut its full-year outlook as declining grain prices discouraged farmers.
Amazon.com Inc was up 2.3%to $326.69 U.S. The online retailer unveiled a $10 credit-card reader and mobile app for brick-and-mortar businesses, marking its latest step to expand its presence in the physical world.
On the downside, both King Digital Entertainment Plc and SeaWorld Entertainment Inc suffered their biggest one-day decline ever after reporting weaker-than-expected revenue. King, the maker of the video game "Candy Crush Saga," plummeted 23% to $13.99 U.S., while SeaWorld sank 25% to $20.99 U.S.
Prices for 10-year U.S. Treasuries gained, lowering yields to 2.42% from Tuesday’s 2.44%. Treasury prices and yields move in opposite directions.
Oil prices fell 33 cents to $97.04 U.S. a barrel.
Gold prices dropped 60 cents at $1,310.00 U.S. an ounce.
