Suspense over the upcoming Eurogroup meeting Wednesday morning held stocks in check at the open.
The S&P/TSX composite index eked higher 1.90 points to open Wednesday at 15,114.42
The Canadian dollar slipped 0.35 cents to 79.08 cents U.S.
Air Canada reported a bigger quarterly net loss as a weak Canadian dollar contributed to a 9% rise in operating costs. Air Canada shares tumbled $1.05, or 7.9%, to $12.20.
Kinross Gold Corp will not go ahead with a $1.6-billion expansion of its Tasiast mine in Africa's northwest because of the weak gold price. The Toronto-based miner also reported an unexpected fourth-quarter loss. Kinross shares slid 22 cents, or 5.4%, to $3.85.
CIBC raised the price target on Avigilon to $28.00 from $25.00. Aviglion shares took on 21 cents to $24.15.
Nomura cut the price target on First Quantum Minerals to $17.00 from $18.00. First Quantum shares gained nine cents to $12.53.
CIBC raised the price target on Intact Financial to $98.00 from $96.00. Intact shares gathered 66 cents to $89.70.
ON BAYSTREET
The TSX Venture Exchange squeezed higher 0.78 points to 691.82
The 14 Toronto subgroups were evenly split between gainers and losers, information technology leading the former group, up 1.2%, while telecoms progressed 1.1%, and consumer staples strengthened 1%.
The seven laggards were weighed most by the energy and metals and mining groups, each off 1.5%, while gold was down 1.2%.
ON WALLSTREET
U.S. stocks traded mixed on Wednesday as investors focused on developments in Greece's negotiations with the euro zone finance ministers.
The Dow Jones Industrials gave back 46.40 points to 17,822.36, with Exxon Mobil the greatest laggard and Procter & Gamble leading blue-chip gains.
The S&P 500 settled 2.9 points to 2,065.69, with utilities the greatest of six laggards and consumer staples leading advancers.
The NASDAQ index took on 5.80 points to 4,793.45.
Apple opened at a new all-time high of $122.77 U.S. a share, boosting the NASDAQ as the only major index trading higher. The stock closed at $122.02 U.S. a share on Tuesday, giving the firm a record market cap of more than $700 billion U.S.
Lions Gate shares rose 8% on Wednesday on news that the entertainment company entered into a stock agreement with affiliates of billionaire John Malone.
On the earnings front, PepsiCo beat estimates by four cents with adjusted fourth quarter profit of $1.12 U.S. per share, with revenue also beating forecasts. The beverage and snack giant does say it expects a "challenging and volatile" macroeconomic environment this year.
Time Warner reported adjusted quarterly profit of 98 cents U.S. per share, beating estimates by five cents. Revenue was slightly short of consensus, mostly due to declines at the Warner Brothers movie studio. Time Warner also raised its quarterly dividend by 10% to 35 cents per share.
Numbers from Baidu, Tesla Motors, Cisco Systems, MetLife, NetApp, Whole Foods, Applied Materials, Equifax and TripAdvisor are all due after the bell.
Little economic data is expected aside from the release of the monthly Federal Budget statement at 2:00 p.m. ET.
All eyes will be on the outcome of the Eurogroup meeting that begins at 11:30 a.m. ET.
Greek Finance Minister Yanis Varoufakis is expected to ask for a "bridge program" to cover the government's funding needs while a new debt pact is agreed.
Prices for 10-year U.S. Treasuries gave back a little ground, raising yields to 2% from Tuesday’s 1.99%. Treasury prices and yields move in opposite directions.
Oil prices retreated 81 cents per barrel to $49.21 U.S.
Gold prices faded $2.50 an ounce to $1,229.70 U.S.
