Canada's main stock index fell on Wednesday, following hefty losses in the previous session, but many investors shrugged off the latest disappointing economic data out of China and mostly kept to the sidelines.
The S&P/TSX composite index greeted noon down 83.75 points to 13,407.34
The Canadian dollar moved lower 0.36 cents at 74.99 cents U.S.
Financials were among the biggest drags on the index. Toronto-Dominion Bank declined 0.9% to $51.05 while Bank of Nova Scotia dipped 1% to $57.54.
TransCanada Corp fell 0.8% to $44.56, while Crescent Point Energy Co gave back 2.8% to trade at $16.49.
Fertilizer producers Potash Corp was down 1.9% at $28.78, while Agrium Inc fell 2.1% to $123.67.
On the economic slate, Statistics Canada pointed out retail sales rose for the third consecutive month in July, up 0.5% to $43.3 billion.
Sales increased in six of 11 sub-sectors, representing 55% of retail trade. Higher sales at motor vehicle and parts dealers and clothing and clothing accessories stores accounted for most of the gain.
ON BAYSTREET
The TSX Venture Exchange remained positive 2.6 points to 543.94
ON WALLSTREET
U.S. stocks traded lower Wednesday as investors weighed oil prices and weak manufacturing data in China, amid a rally in Europe.
The Dow Jones industrial average tumbled 97.88 points to 16,232.59. United Technologies, Caterpillar and Boeing were among the greatest decliners on the Dow.
The S&P 500 dropped 8.44 points to 1,934.30, with materials leading all 10 sectors lower.
The NASDAQ index dipped 18.02 points to 4,738.70,
The Dow remained in correction territory or more than 11% away from its 52-week high. The S&P 500 and NASDAQ composite were within 10% of their 52-week highs.
The NASDAQ clung to slight gains for 2015. Both the Dow and S&P are negative for the year so far.
Growth in the U.S. manufacturing sector showed no month-over-month change during September, staying at August's sluggish pace of 53, which was the weakest in almost two years, according to Markit's preliminary U.S. maufacturing PMI for September.
Volkswagen recovered from a recent plunge of more than 30% to hold more than 5% higher in European trade.
Martin Winterkorn resigned as the firm's CEO Wednesday. Last week, news emerged that the automaker had misled authorities over the emissions of its diesel cars.
The preliminary China manufacturing purchasing managers' index (PMI) fell to a six-and-a-half-year low of 47.0 in September, below a 47.5 forecast by analysts in a Reuters poll, data showed.
Prices for 10-year U.S. Treasuries faded, raising yields to 2.15% from Tuesday’s 2.14%. Treasury prices and yields move in opposite directions.
Oil prices fell $1.17 a barrel to $45.19 U.S.
Gold prices surged $6.60 to $1,131.40 U.S. an ounce.
