The Toronto stock market stalled Wednesday after a string of solid gains as investors took in a rising level of violence in anti-government protests in Egypt.
The S&P/TSX composite index settled back 32.33 points to close at 13,680.29
The Canadian dollar gained strength against the U.S. dollar, picking up 0.27 cents to 101.22 cents U.S.
Energy stocks were lower even as oil prices advanced amid the latest turn of events in Egypt.
Imperial Oil gained 95 cents to $44.95.
Suncor Energy Inc. stock was flat at $41.61 after it reported fourth-quarter net earnings almost tripled from a year ago to $1.35 billion, or 87 cents per common share. That was much higher than the 51 cents a share that analysts had expected.
Suncor became Canada’s largest energy company when it merged with Petro-Canada in 2009.
Gold stocks were the major decliner with Barrick Gold Corp. falling 90 cents to $46.94 while Goldcorp Inc. was down 47 cents to $40.32
New Gold Inc. shares rose nine cents to $8.27, as the miner said it sold more of the precious metal last year and hit record production levels.
March copper in New York was unchanged from Tuesday's latest record high close of $4.55 U.S. a pound. Among base metals stocks, Teck Resources rose $1.28 to $63.70 while Quadra FNX Mining gained 29 cents to $14.60.
Tech stocks were also higher in the wake of strong earnings reports from American firms Electronic Arts Inc. and MEMC Electronic Materials Inc. Research In Motion Ltd. was ahead 54 cents at $60.42.
ON BAYSTREET
The TSX Venture Exchange leaped 22.18 points to 2,324.17, while the Nasdaq Canada index was up 2.55 to 763.75.
In Toronto, 10 of the 14 subgroups were negative by the close. Gold tailed off 1.4%, while industrials demurred 0.7% and consumer discretionaries were off 0.5%.
The four gainers were led by the metals and mining group, up 1%, information technology, picking up 0.8%, and global base metals, ahead 0.5%.
ON WALLSTREET
In New York, stocks ended little changed Wednesday as uncertainty about Egypt hung over the market two days before the government's all-important payrolls report.
The Dow Jones Industrials acquired but 1.81 points to close at 12,042.
The S&P 500 index ducked back, however, 3.56 points to 1,304.03, while the tech-rich Nasdaq Composite Index slid 1.03 points to 2,754.94.
Time Warner posted fourth-quarter earnings Wednesday that beat Wall Street expectations, driven in part by a recovering advertising market. Shares of Time Warner, the parent of CNNMoney and Fortune, were up 8%.
Shares of video game company Electronic Arts jumped nearly 16%, a day after they reported a 75% jump in quarterly earnings and announced a stock buyback.
Mattel shares rose 1%, after the toymaker reported fourth-quarter results that beat analysts' expectations and raised its quarterly dividend payment.
Broadcom fell more than 5%, after the semiconductor company reported quarterly results that met expectations, but issued guidance that was slightly below Wall Street consensus.
Toyota shares gained 2%, after reporting an almost 24% rise in January sales Tuesday. The Japanese automaker also said late Tuesday that it is offering "voluntary exit packages" to certain employees, as part of a restructuring plan.
Shares of Borders Group plunged more than 35% Tuesday before the market close, and were down 19% to 38 cents U.S. early Wednesday on reports that the bookseller is close to filing for bankruptcy.
After the closing bell, Visa was expected to report earnings per share of $1.21 U.S. on revenue of $2.23 billion U.S.
Economically speaking, investors largely looked past a better-than-expected report on private-sector payrolls and a seasonal increase in planned job cuts in January.
But investors are awaiting confirmation of that trend on Friday, when the Labor Department's monthly employment report comes out
The government is expected to report a 148,000-job increase in January, compared to 113,000 the prior month. Unemployment is expected to have notched up to 9.5% in January, compared to 9.4% the prior month.
Meanwhile, investors did some selective buying of companies that reported quarterly results Wednesday morning.
In Washington, the Senate Budget Committee will meet for the second day of hearings on the economic outlook, tax reform and challenges to the economic recovery.
The price on the benchmark 10-year U.S. Treasury fell, pushing the yield up to 3.49% from 3.44% Tuesday. Treasury prices and yields move in opposite directions.
Oil for February delivery tacked on 13 cents to $90.90 U.S. a barrel.
Gold futures for April delivery fell $3.10 to $1,336.80 U.S. an ounce.
