Equities in Toronto edged lower on Tuesday as strength in resource stocks –due to heightened geopolitical tensions -- was overshadowed by losses for financials and other sectors.
The S&P/TSX composite index lost 9.43 points to open Tuesday at 13,372.95
The Canadian dollar regained 0.22 cents at 75.03 cents U.S.
Bombardier said lower production of its business jets - Global 5000 and Global 6000 - will drive down revenue in 2016. The company has an investor day planned for today.
Bombardier shares erased a cent to $1.23.
Activist investor Bill Ackman's hedge fund has boosted its investment in Valeant Pharmaceuticals International, and signaled it may play a greater role in the beleaguered drug maker's strategy
Valeant shares took on a cent to $117.09
Canaccord Genuity raised the target price on TD Bank to $56.00 from $54.00.
TD shares retreated 23 cents to $54.28
Canaccord Genuity raised the target price on Bank of Nova Scotia to $71.00 from $67.00
Scotiabank shares lost 37 cents to $59.81.
Canaccord Genuity raised the target price on Manitoba Telecom Services to $29.00 from $27.00.
Manitoba Telecom shares acquired three cents to $30.18.
ON BAYSTREET
The TSX Venture Exchange inched back 0.43 points to 520.73.
Of the 13 TSX subgroups, laggards outnumbered gainers seven to six, utilities leading the former group, down 1.2%, while telecoms slipped 0.9%, and industrials skidded 0.8%.
The half-dozen gainers were led by metals and mining, up 2.9%, gold, ahead 2%, and materials, better by 1.2%.
ON WALLSTREET
U.S. stocks lost ground Tuesday after news of a downed Russian warplane near the Syrian border.
The Dow Jones industrial average faded 52.61 points to open at 17,740.07, with JPMorgan Chase leading decliners and Chevron the greatest advancer.
The S&P 500 regressed 6.96 points to 2,079.63, with financials leading eight decliners and energy and materials the only gainers.
The NASDAQ index gave back 20.65 points to 5,081.81.
Campbell Soup, Dollar Tree, Hormel Food, and Tiffany were among companies reporting ahead of the bell. Hewlett Packard reports after the bell, as do Guess and TiVo.
A Russian warplane was shot down near the Syrian border Tuesday after it reportedly entered Turkish airspace. State-run Turkish news service Anadolu Agency said that the downed warplane was a Russian-made SU-24 and had been engaged by two Turkish F16 jets
In economic news, revised third-quarter U.S. Gross Domestic Product came in as expected, up 2.1% from the original reading of 1.5%.
Consumer confidence came in at 90.4 for November. The figure was expected to rise to 99.5 from 97.6.
Moreover, the S&P/Case Shiller composite index of 20 metropolitan U.S. areas gained 5.5% in September on a year-over-year basis
compared with 5.1% in the year to August. It was above the 5.1% estimate from a poll of economists.
Prices for 10-year U.S. Treasuries gained ground, lowering yields to 2.23% from Monday’s 2.25%. Treasury prices and yields move in opposite directions.
Oil prices galloped ahead $1.51 a barrel to $43.26 U.S.
Gold prices perked $5.45 to $1,074.63 U.S. an ounce.
