Stocks again bowed to downward pressure Tuesday afternoon, with investors still worried about the recent slump in Chinese stocks.
The S&P/TSX composite index remained negative 57.66 points to end the day at 14,193.87
The Canadian dollar regained 0.19 cents at 76.61 cents U.S.
Metals and mining took the biggest hits Tuesday, with First Quantum Minerals going south 79 cents, or 9.3%, to $7.68, while Teck Resources slid 73 cents, or 8%, to $8.39
Gold stocks were also pressured, as Iamgold hesitated 13 cents, or 5.4%, to $2.30, and Yamana Gold gave back 16 cents, or 5.3%, to $2.87.
Utilities were also negative as Emera Inc. lost 90 cents, or 2%, to $45.00, and ATCO Ltd. shed 55 cents, or 1.4%, to $39.70.
Telecoms provided one bright spot, as Rogers Communications gained 37 cents, or 0.8%, to $45.68.
Bombardier was the most actively traded stock, losing 10 cents, or 7.6%, to $1.21, on 13.5 million shares.
ON BAYSTREET
The TSX Venture fell 7.87 points to 563.44.
All but three of the 14 TSX subgroups were lower Tuesday, metals and mining tumbling 5.6%, global base metals down 3.2%, and gold off 1.7%.
The three gainers were telecoms, ahead 0.4%, real-estate, up 0.3%, and health-care eking up 0.1%.
ON WALLSTREET
U.S. equities closed lower on Tuesday as Wall Street digested better than expected housing data and mixed earnings results from two Dow components while eyeing the the release of the Federal Reserve's minutes.
The Dow Jones industrial average faded 33.84 points to 17,511.34, led lower by Wal-Mart and with Home Depot leading advancers.
The S&P 500 slid 5.52 points to 2,096.92, with materials leading nine sectors lower and consumer discretionary the only advancer.
The NASDAQ index fell 32.35 points to 5,059.35, as Apple ended down 0.6%.
Investors also took into account the earnings release of two Dow Jones industrial average components: Wal-Mart and Home Depot.
Wal-Mart reported quarterly earnings that missed analysts' expectations and also cut its full-year guidance, while Home Depot posted better than expected same-store sales. Shares of Wal-Mart closed down 3.4%, while Home Depot's stock ended 2.6% higher.
In other corporate news, sporting goods retailer Dick's Sporting Goods posted earnings per share that came slightly above expectations, while revenue came in line with Wall Street's estimates. Dick's also raised its full-year guidance.
Urban Outfitters posted quarterly earnings per share of 52 cents U.S., beating estimates by three cents. Still, revenue and same-store sales both missed expectations.
Wireless carrier Sprint is doing away with two-year contracts in favor of a business model in which customers lease their phones.
Petrobras may have to pay $1.6 billion U.S. or more to settle U.S. probes into a corruption scandal, according to Reuters.
Overnight, China's Shanghai Composite dropped 6.12 percent and closed at its lowest level since Aug. 7 amid renewed concerns that the Chinese government could further devalue the yuan.
The People's Bank of China set the Chinese currency's midpoint rate at 6.3966 against the dollar, but the yuan fell against the greenback during Asia trading to about 6.40.
Investors stateside are also awaiting the release of the minutes from the Federal Reserve's July meeting, which are scheduled to be released Wednesday at 2 p.m.
Tuesday also saw the release of U.S. housing starts data for July, which came in at 1.206 million, above what economists expected and near an eight-year high. June's starts were also revised higher to a 1.20-million-unit rate from the previously reported 1.17-million-unit pace.
Overnight, China's Shanghai Composite dropped 6.1% and closed at its lowest level since Aug. 7 amid renewed concerns that the Chinese government could further devalue the yuan.
The People's Bank of China set the Chinese currency's midpoint rate at 6.3966 against the dollar, but the yuan fell against the greenback during Asia trading to about 6.40.
Prices for 10-year U.S. Treasuries slumped a bit, raising yields to 2.19% from Monday’s 2.17%. Treasury prices and yields move in opposite directions.
Oil prices picked up 52 cents a barrel to $42.39 U.S.
Gold prices deducted $1.80 to $1,116.60 U.S. an ounce.
