Equities in Toronto retreated on Wednesday as the slide in crude oil prices weighed on energy stocks, while mining stocks contended with a drop in the price of gold.
The S&P/TSX composite index faltered 69.6 points to greet noon at 13,176.15.
The Canadian dollar deducted 0.21 cents to 72.03 cents U.S.
The biggest drag on the market was Canadian Natural Resources which declined 2.1% to $30.48.
Enbridge Inc fell 1.7% to $45.32. The company said on Tuesday it has halted operations on its Ozark pipeline due to flooding along the Mississippi River.
The materials group fell, including a 2.8% drop in Barrick Gold Corp to $10.20.
Financial stocks fell, including a 0.5% drop in Royal Bank of Canada to $75.47.
Valeant Pharmaceuticals International Inc found a foothold after falling sharply at the start of the week on news its chief executive officer, Michael Pearson, is taking medical leave. The stock rose 0.8% to $141.29.
ON BAYSTREET
The TSX Venture Exchange gained 0.21 points to 518.41
Eight of the 13 TSX subgroups were negative by noon, with energy down 2.5%, gold losing 1.6% and materials sliding 1.1%.
The five gainers were led by health-care, better by 0.8%, real-estate, up 0.3%, and consumer discretionaries inching up 0.1%.
ON WALLSTREET
U.S. stocks traded lower Wednesday, pressured by a decline in oil prices, as the major averages attempted to hold gains for the shortened holiday week.
The Dow Jones industrial average removed 40.3 points to 17,680.68, with Chevron the greatest decliner and Caterpillar leading advancers.
The S&P 500 lost 7.39 points to 2,070.97, with energy leading all 10 sectors lower.
The NASDAQ index dropped 18.23 points to 5,089.71.
As of Tuesday's close, the S&P 500 was up 1% year-to-date, while the Dow was down 0.6% for the year so far. The NASDAQ was up 7.9% for 2015.
Pending home sales fell 0.9% in November from an upwardly revised October reading, according to the National Association of Realtors.
WTI and Brent traded about 3% lower below $37 U.S. a barrel after weekly crude oil inventories unexpectedly showed a buildup by 2.6 million barrels.
Prices for the 10-year Treasury fell slightly, lifting yields to 2.31% from Tuesday’s 2.3%. Treasury prices and yields move in opposite directions.
Oil prices fell $1.15 a barrel to $36.72 U.S.
Gold prices slipped $8.65 to $1,060.46 U.S. an ounce.
