Markets in Toronto shed more strength at Wednesday’s open, amid more uncertainty over geopolitical events and doubts about economic growth offshore.
The S&P/TSX composite index dumped 57.57 points to open at 15,068.10
The Canadian dollar turned negative 0.22 cents to 90.34 cents U.S.
BlackBerry is set to launch an unconventional new smartphone dubbed the Passport as it embarks on potentially the most critical phase of its long turnaround. The company once known as Research in Motion was up 21 cents a share to $11.91.
Bombardier said Tuesday it’s in advanced talks with an unidentified airline that could become the first operator of its CSeries jet. Bombardier gained three cents to $3.51.
TransCanada Corp said it was reviewing a Quebec court order that had temporarily halted geo-technical survey work related to its $12-billion Energy East pipeline project. TransCanada waned 46 cents in price to $59.14.
RBC raised the rating on Cascades Inc. to outperform from sector perform. Cascades gained 17 cents to $6.04.
ON BAYSTREET
The TSX Venture Exchange slid 2.47 points to 922.71.
Nine of the 14 Toronto subgroups were lower, with energy slipping 1.4%, gold down 0.7%, and utilities off 0.6%.
The four gainers were led by health-care, haler 1.2%, global base metals, stronger by 0.9%, and metals and mining, up 0.8%. Consumer staples were flat to begin the day.
ON WALLSTREET
U.S. stocks hesitated about assuming a direction at Wednesday’s open, as worries persist about global growth and Mideast fighting.
The Dow Jones Industrials erased 4.74 points to start at 17,051.13.
The S&P 500 dipped 1.06 points to 1,981.71. The NASDAQ squeezed higher 2.01 points to 4,510.70.
Bed, Bath & Beyond shares climbed nearly 6% to lead the S&P 500 after the home-furnishings retailer late Tuesday posted better-than-expected quarterly earnings.
Accenture shares fell 2% for one of the S&P 500’s worst performances after the consulting firm issued a cautious outlook for its next fiscal year.
Economically speaking, the U.S. Commerce Department released its report on August new-home sales this morning. Analysts were looking for a modest gain to a seasonally adjusted annual rate of 426,000. The pace of sales in July fell to a four-month low at 412,000.
Prices for 10-year U.S. Treasuries were unchanged, keeping yields at Tuesday’s 2.54%.
Oil prices were down 34 cents to $91.22 U.S. a barrel.
Gold prices sank $3.40 to $1,218.60 U.S. an ounce.
