Canada's main stock index experienced something of a roller-coaster trading day Tuesday, as disappointing economic data and soft commodity prices weighed on many sectors.
The S&P/TSX composite index was down 16.41 points to close Tuesday at 14,960.51
The Canadian dollar moved lower 0.28 cents at 89.29 cents U.S.
The benchmark index looked on track to record its worst monthly decline since May 2012, set to lose about 4% in September.
Consumer staples proved a market leader Tuesday, as Empire Co., which runs the Sobeys grocery chain, picked up 1.5%, to $77.89, while Jean Coutu Group improved 1.3% to $23.48.
Financials gained on the day as Bank of Nova Scotia grew 0.4% to $69.44, and Bank of Montreal added 0.4% to $82.63.
The materials sector, which includes mining stocks, slumped as the prices of gold, silver and copper traded lower. First Quantum Minerals shed 0.6% to $21.58, and Potash Corp fell 1% at $38.56.
Among gold issues, Continental Gold plummeted 7.3% to $2.93, while Barrick Gold dumped 1.3% to $16.49.
In corporate news, exchange operator TMX Group Ltd on Monday named Lou Eccleston as its new chief executive officer, to replace the retiring CEO Tom Kloet. The stock was up 0.6% to $54.72.
On the economic docket, Statistics Canada reported this morning that real gross domestic product was essentially unchanged in July, following six consecutive monthly gains.
The agency says notable growth in manufacturing and the public sector was offset by significant declines in mining and oil and gas extraction as well as in utilities.
The Industrial Product Price Index increased 0.2% in August, mainly because of higher prices for motorized and recreational vehicles.
The Raw Materials Price Index declined 2.2% last month, mostly as a result of lower prices for crude energy products.
ON BAYSTREET
The TSX Venture Exchange dropped 3.47 points to 909.29
Eight of the 14 Toronto subgroups were positive Tuesday, led by consumer staples, charging ahead 0.9%, industrials, up 0.7%, and financials, gaining 0.5%.
The half-dozen laggards were weighed mostly by gold, down 1.2%, materials, off 1%, and energy, sliding 0.8%.
ON WALLSTREET
U.S. stocks fell on Tuesday, with equities posting September losses and quarterly gains, as portfolio managers engaged in end-of-quarter positioning
The Dow Jones Industrials dipped 28.32 points to greet the closing bell at 17,042.90. The 30-component index was down 0.3% for September and ahead 1.3% for the quarter.
The S&P 500 moved lower 5.51 points to 1,972.29, off 1.6% for the month and up 0.6% for the July-to-September period. The NASDAQ fell 12.46 points to 4,493.39, leaving it down about 1.9% for September and up 1.9% for the quarter.
EBay climbed after the online-auction site said it would split from PayPal, its payments unit, early in 2015.
McDonald's led blue-chip losses and Visa fronted gains.
Home price data came in weaker than expected. Annual home price growth slowed down in July to the slowest pace since late 2012, according to the S&P/Case-Shiller home-price index.
Elsewhere, the U.S. consumer confidence index fell to 86.0 in September from a revised 93.4 in August, marking the first decline in five months, the Conference Board said Tuesday. Economists polled by MarketWatch had projected the index to decline to 92.3.
Prices for 10-year U.S. Treasuries sagged, raising yields to 2.51% from Monday’s 2.49%. Treasury prices and yields move in opposite directions.
Oil prices lost $3.22 to $91.35 U.S. a barrel.
Gold prices slipped 10 dollars to $1,208.80 U.S. an ounce.
