Stocks in Toronto fell hard by the close on Tuesday, as weaker resource and industrial stocks continued to weigh on the main index.
The S&P/TSX composite index dropped 66.16 points to end the session at 15,346.44
The Canadian dollar slid 0.35 cents to 81.42 cents U.S.
Energy stocks were weaker, as Imperial Oil dipped 50 cents to $54.55.
The metals and mining group fell as Teck Resources tumbled $1.09, or 6.4%, on disappointing quarterly results.
The industrial sector plunged as Canadian Pacific Railway slipped $2.58, or 3.1%, having reported the lowest operating ratio in company history.
The health-care group gained as Valeant Pharmaceuticals raced ahead $7.92, or 3.2%, to $259.06.
Among information technology stocks, Celestica galloped ahead 60 cents, or 4.3%, to $14.67.
On things economic, Statistics Canada reported this morning that wholesale trade slumped again in February, this time by 0.4% to $53.6 billion, a six-month low. Sales were down in three of seven sub-sectors, accounting for 51% of wholesale sales.
ON BAYSTREET
The TSX Venture Exchange moved lower 3.5 points to 700.15
Eight of the 14 Toronto subgroups were lower on the day, with metals and mining plummeting 3.3%, industrials listing lower 1.9%, and energy off 1.6%.
The half-dozen gainers were led by health-care, up 1.5%, information technology, better by 1.1%, and gold up 1%.
ON WALLSTREET
U.S. stocks closed mixed on Tuesday, mostly failing to hold momentum from Monday, as investors reacted to individual earnings reports of major companies.
The Dow Jones Industrials sank 85.34 points to 17,949.59, after a gain of more than 1% Monday, with Cisco and Visa leading advancers and Travelers and DuPont the greatest laggards.
The S&P 500 index shed 3.11 points to 2,097.29, with energy the greatest of seven laggards and health-care leading advancers.
The NASDAQ index remained positive 19.50 points to 5,014.10, outperforming the major indices as Facebook extended gains by more than 1% ahead of its earnings report on Wednesday after the bell.
DuPont earned an adjusted $1.34 U.S. per share for the first quarter, five cents above estimates, though revenue was below forecasts. DuPont said quarterly results were impacted negatively by 25 cents U.S. from the stronger dollar. Additionally, DuPont also announced an increase in its quarterly dividend by 4% to 59 cents U.S. per share.
United Technologies beat estimates by 13 cents U.S. with adjusted quarterly profit of $1.58 U.S. per share, with revenue slightly below forecasts. UTC said it had a good start to the year despite ongoing headwinds from currency effects.
Kimberly-Clark reported adjusted quarterly profit of $1.42 U.S. per share, nine cents above estimates, with revenue also above forecasts. The personal care products maker also warned that currency effects will cut its 2015 operating profit by 10% to 11%.
Verizon beat forecasts by seven cents with quarterly profit of $1.02 U.S. per share, though revenue fell slightly short. Verizon's wireless operation also added 565,000 subscribers in the quarter compared to a year earlier.
IBM reported adjusted quarterly profit of $2.91 U.S. per share, 11 cents above estimates. Revenue was essentially in line with estimates, though it did fall for the 12th straight quarter as IBM continues its transformation toward cloud-based businesses.
Hormel said its turkey supply chain has been significantly disrupted due to avian flu outbreaks in Minnesota and Wisconsin. Hormel is sticking with its prior fiscal 2015 earnings guidance, but did say it expects results toward the lower end of its projected range.
In more merger and acquisitions in the sector, generic drug maker Teva announced an $82 U.S. per share offer for Mylan on Monday.
Amgen, Yahoo, Chipotle Mexican Grill, Discover Financial, Illumina, Yum Brands, Cree, iRobot report after the bell.
Prices for 10-year U.S. Treasuries sagged, raising yields to 1.90% from Monday’s 1.88%. Treasury prices and yields move in opposite directions.
Oil prices dipped nine cents to $56.29 U.S.
Gold prices gained $1.80 to $1,195.50 U.S.
