Equities in Canada’s biggest market receded on Tuesday, hurt by financial and energy stocks as risk aversion swept through global markets and oil touched its lowest point in more than five years.
The S&P/TSX composite index stayed negative 40.09 points to greet noon at 14,623.83
The Canadian dollar regained 0.27 cents to 86.05 cents U.S.
The stock move was partially offset by gains in the materials sector as gold rose.
The Bank of Nova Scotia played the biggest role in pulling the index lower, dropping 0.9% to $66.35. Suncor Energy was also a drag on the index as it fell 1% to $37.03.
On the upside, miner Goldcorp jumped 4.4% to $21.57, and rival Barrick Gold was up 3.5% at $12.61. Gold stocks jumped, lifting the broader materials sector.
ON BAYSTREET
The TSX Venture Exchange gained 3.46 points to 685.07
Eight of the 14 Toronto subgroups were lower, as energy slid 1.6%, financials shed 0.7%, and consumer discretionary stocks ditched 0.5%.
The five gainers were led by gold, soaring 4.2%, materials, up 2%, and the metals and mining group, stronger by 0.6%. Information technology issues were unchanged at noon hour.
ON WALLSTREET
U.S. stocks traded lower on Tuesday, weighed in the absence of other news by continued concern over Greece's failure to elect a president on Monday.
The Dow Jones Industrials dropped 52.08 points to 17,986.15, with Caterpillar and General Electric leading declines and United Health leading three blue-chip advancers.
The S&P 500 subtracted 6.18 points to 2,084.39, with utilities falling more than 1% to lead declines in all sectors except health care.
On Monday, the utilities sector had led the S&P 500 to its 53rd record close for the year.
The NASDAQ index fell 17.10 points to 4,789.81.
American Realty surged more than 8% after activist investor Corvex disclosed a 7.1% stake in the real estate investment consulting group.
Fast casual chain Chipotle traded lower on the day while maintaining a near 30% gain for the year.
Economically speaking, the December reading of the Conference Board's consumer confidence index came in slightly lower-than-expected at 92.6.
Earlier, the Case-Shiller house price index for October showed that U.S. single-family home prices' rate of increase continued to decelerate in October since the stronger-than-expected rise seen in the previous month.
The Greek parliament, for a third time, failed to elect a new president on Monday, meaning a general election has been called for January 25. There are worries that far-left anti-austerity party Syriza could win, with polls showing that the party has a narrow lead, according to Reuters.
Athens' main stock exchange, which ended almost 4%lower on Monday, pared losses to trade about 0.25% lower.
Prices for 10-year U.S. Treasuries gained, lowering yields to 2.17% from Monday’s 2.20%. Treasury prices and yields move in opposite directions.
Oil prices regained five cents per barrel to $53.66 U.S.
Gold prices gathered $22.00 an ounce at $1,203.90 U.S.
