The Toronto stock market pulled back Tuesday with nearly every major sector lower after data showed the Canadian economy slowed in the final months of last year.
The S&P/TSX composite index fell 130.20 points, to close Tuesday trading at 15,133.85
The Canadian dollar, on the other hand, hiked 0.28 cents to 80.05 cents U.S.
Metals prices were mixed and weighed heaviest on the declines. May copper edged down 4.7 cents to $2.65 U.S. a pound. Teck Resources gave back 40 cents, or 2%, to $19.55
Gold stocks faded as Goldcorp dipped 51 cents, or 1.9%, to $26.08, while Agnico Eagle Mines fell 61 cents, or 1.5%, to $39.52
Energy stocks were ahead as Imperial Oil took on 50 cents, or just more than 1%, to $48.59, and Suncor Energy tallied 48 cents, or 1.3%, to 37.56
Meanwhile, Scotiabank, the last of the big five banks to report first-quarter results, said earnings were $1.73 billion or $1.35 per diluted share, up from $1.71 billion or $1.32 in the comparable year-earlier period. Scotiabank shares faded $1.15, or 1.7%, to $65.78.
BlackBerry unveiled its latest smartphone at the Mobile World Congress wireless show in Barcelona, offering a look at the first of four new smartphones it plans to release this year.
Chief executive John Chen said the BlackBerry Leap will cater to the "low-to-mid" range phone market, and will go on sale in Europe in April.
BlackBerry shares closed down 18 cents or 1.3% at $13.69 on the Toronto Stock Exchange.
On the economic scene, Statistics Canada reported this morning that December’s Gross Domestic Product kept rolling in the final quarter of 2014, after a 0.8% jump in Q3. Monthly real GDP increased 0.3% in December.
The agency also reported that its industrial product price index declined 0.4% in January, largely as a result of lower prices for energy and petroleum products, while its raw materials price index faded 7.7% in January, lower energy prices again the main culprit.
ON BAYSTREET
The TSX Venture Exchange lopped off 1.95 points to 702.35
All but one of the 14 Toronto subgroups were down on the day. Metals and mining slipped 2.4%, materials sank 2.2%, and gold shone 2.1% less brightly.
Energy stocks proved the lone gainer, up 1.2%.
ON WALLSTREET
U.S. stocks pulled back from recent highs to close lower in light volume trade on Tuesday, as investors weighed soft auto sales and looked ahead to domestic data.
The Dow Jones Industrials stepped back 85.26 points to close the day at 18,203.37, though off its lows of the day. Cisco was the greatest decliner and Boeing the greatest of six blue-chip advancers.
The S&P 500 slid 9.61 points to 2,100.85, with health-care the greatest laggard and utilities and energy the only sectors advancing.
The NASDAQ index moved backward 28.20 points to 4,979.90.
U.S. stocks closed at records on Monday, with the NASDAQ above 5,000 for the first time since March 2000. The Dow and S&P 500 set new records.
In corporate news, Best Buy earned an adjusted $1.48 U.S. per share for its latest quarter, beating estimates by 13 cents, though revenue was slightly below forecasts. Best Buy also declared a special dividend of 51 cents U.S. per share, and increased its regular quarterly dividend by 21% to 23 cents U.S. per share.
Dick's Sporting Goods earned an adjusted $1.30 U.S. per share for its latest quarter, eight cents above estimates, with revenue also above forecasts. Dick's said it expected to earn $3.10 to $3.20 U.S. per share for 2015, compared to analyst estimates of $3.19 U.S.
AutoZone reported quarterly profit of $6.51 U.S. per share, 13 cents above estimates, with revenue also above consensus. Domestic same-store sales were up 3.6% from a year earlier.
General Motors, Ford, Fiat Chrysler and Nissan narrowly missed estimates on February auto sales but the firms' stocks traded only mildly lower compared to their recent run.
Prices for 10-year U.S. Treasuries fell, raising yields to 2.12% from Monday’s 2.08%. Treasury prices and yields move in opposite directions.
Oil prices gained 74 cents to $50.33 U.S.
Gold prices faded $5.80 an ounce to $1,202.40 U.S.
