Toronto stocks took a downward turn Tuesday, on news from financial giant Scotiabank.
The S&P/TSX composite index ditched 60.32 points to begin Tuesday at 14,477.30
The Canadian dollar dropped 0.41 cents to 88.03 cents U.S.
Bank of Nova Scotia said it was cutting about 1,500 jobs and would take a pre-tax charge of $451 million in the quarter ended Oct. 31.
Scotiabank shares gave up 74 cents to $68.04.
Oil producer Talisman Energy Inc reported a bigger-than-expected quarterly profit as tight cost controls helped offset lower oil and gas prices. Talisman shares dipped 43 cents, or 6.2%, to $6.49.
WestJet Airlines Ltd, Canada's number-two airline, reported a third-quarter adjusted profit that missed analysts' average estimate, hurt by higher costs. WestJet shares slipped 50 cents to $31.53.
ON BAYSTREET
The TSX Venture Exchange ended lower 3.49 points to 766.10.
The 14 Toronto subgroups were evenly split mid-morning, with consumer staples, information technology and telecoms all up 0.9%.
The seven laggards were weighed most by energy, down 3%, metals and mining, off 2.1%, and gold, sliding 1.7%.
ON WALLSTREET
U.S. stocks drifted lower on Tuesday as plunging oil prices once again hit shares of energy companies, while a downbeat report on European growth weighed on sentiment.
The Dow Jones Industrials dipped 35.58 points to 17,330.66
The S&P 500 dropped 11.17 points to 2,006.64. The NASDAQ index lost 27.45 points to 4,611.40.
Prices for 10-year U.S. Treasuries gained bit, lowering yields to 2.33% from Friday’s 2.34%. Treasury prices and yields move in opposite directions.
Oil prices plummeted $1.98 to $76.80 U.S. a barrel.
Gold prices docked $3.10 to $1,166.70 U.S. an ounce.
