The Toronto stock market gave up earlier gains and finished slightly negative on Tuesday, as energy stocks tried to recover from a recent slide in crude oil prices.
The S&P/TSX composite index slid 5.25 points to finish the day at 14,620.07
The Canadian dollar moved down 0.53 cents to 87.75 cents U.S.
Among gold issues, Goldcorp gave back 81 cents, or 3.4%, to $23.25, and Agnico Eagle Mines fell 85 cents, or 3%, to $27.58
TSX financials slid after Bank of Montreal kicked off bank earnings season with fourth-quarter profits that were weaker than analysts expected.
The bank reported $1.07 billion of net income in the fourth quarter, essentially unchanged from a year earlier. On an adjusted basis, it had $1.111 billion of earnings or $1.63 per share -- five cents below estimates.
Its main Canadian banking operations showed strong 14% growth but that was offset by declines at BMO's capital markets and wealth segments. BMO shares lost $1.72, or 2.1%, to $81.57.
In the energy sector, TransCanada Corp. says it will halt all work on an oil terminal in eastern Quebec in response to concerns the project could hurt a beluga whale habitat.
The Cacouna terminal was planned to be one of the last stops for the crude from the proposed Energy East pipeline before being loaded onto oil tankers and shipped overseas. TransCanada shares were up 86 cents, or 1.6%, at $55.06.
In economic news, the Bank of Canada makes its next announcement on interest rates on Wednesday. Canada's central bank is universally expected to leave its key rate unchanged at 1%, where it's been for more than four years.
The Bank of England and European Central Bank make their rate announcements on Thursday.
ON BAYSTREET
The TSX Venture Exchange lost 4.75 points to 720.27
Eight of the 14 Toronto subgroups were downward on the day, with gold fading 3.1%, telecoms off 1.4%, and materials sliding 1.1%.
The half-dozen gainers were led by industrials, up 1.4%, real-estate, acquiring 0.7%, and information technology, making its way up 0.5%.
ON WALLSTREET
U.S. stocks rose on Tuesday, with the Dow striking another peak, as investors cheered better-than-expected November sales from Ford Motor, General Motors and Fiat Chrysler.
The Dow Jones Industrials gained 102.75 points to close Tuesday at 17,879.55, with Chevron and Exxon Mobil lately leading blue-chip gains that extended to 24 of 30 components.
The S&P 500 tallied 13.11 points to 2,066.55. The NASDAQ index regained 28.46 points to 4,755.81
BP climbed on unconfirmed talk of a takeover bid for the U.K. energy company from Royal Dutch Shell.
RadioShack fell as the electronics retailer rejected claims it had breached covenants on a term loan from Harbinger Group unit Salus Capital Partners.
Apple reversed course, halting losses that followed its largest single-day decline since September. Opening statements were set to begin Tuesday in a federal case involving allegations the supplier of consumer technology abused a monopoly position in the digital music player market.
U.S. automobile sales rose 4.6% in November to 1.3 million, Autodata reported, with the auto sales rate coming to 17.2 million last month in the strongest pace for the month since 2003.
Stocks maintained gains after the U.S. Commerce Department reported construction spending rose 1.1% in October.
Prices for 10-year U.S. Treasuries swooned, spiking yields to 2.28% from Monday’s 2.22%. Treasury prices and yields move in opposite directions.
Oil prices gave back $1.78 to $67.22 U.S.
Gold prices fell $18.50 at $1,199.60 U.S.
