Stocks in Toronto slipped Tuesday, led by losses in gold companies as the price of yellow metal dipped on easing geopolitical tensions over North Korea.
The S&P/TSX Composite Index was off 22.07 points at 15,097.84.
The December gold contract shed $10.70 U.S. to $1,279.70 U.S. an ounce.
On the economic front, data released on Tuesday showed lending to Canadian small businesses rose for a fifth straight month in June on stronger activity in construction and other major industries.
The Canadian Real Estate Association says the national average price for homes sold in July fell compared with a year ago, the first year-over-year drop since February 2013.
The association says the average price for a home sold last month was $478,696, down 0.3 per cent from July 2016, due to fewer sales in Toronto and Vancouver compared with last year.
In corporate news, specialty food company Premium Brands Holdings rose 3.3 percent to $99.63 as several analysts increased their price targets following upbeat earnings.
The Canadian dollar was trading lower at 78.39 cents U.S.
ON BAYSTREET
The TSX Venture Exchange was up 5.23 points to 769.87.
Five of the 12 TSX subgroups were positive Tuesday, with health-care adding 0.91%, utilities up 0.54% and real estate ahead 0.34%.
On the downside, Gold issues were off 0.59%, Material stocks shed 0.43% and Base Metals dipped 0.40%.
ON WALLSTREET
US stocks inched higher amid a mixed bag of earnings and better-then-expected retail sales data.
The Dow Jones Industrial Average finished up 5.28 points, or less than 0.1%, at 21,998.99. The S&P 500 index declined 1.23 points to finish at 2,464.61. The Nasdaq Composite Index slipped 7.22 points, or 0.1%, to close at 6,333.01.
In earnings, Advance Auto Parts Inc. (AAP) slumped 20% after falling short of earnings estimates over its recent quarter. Adjusted profit of $1.58 a share fell short of an estimated $1.65. Revenue was flat at $2.264 billion, in-line with estimates. Same-store sales were also flat. For the full year, the retailer anticipates same-store sales to fall between 1% and 3%.
Home Depot Inc. (HD) reported quarterly earnings that exceeded estimates and comparable-store sales growing more than anticipated. Profit rose to $2.25 a share from $1.97 a year earlier, 4 cents higher than targeted. Revenue of $28.11 billion topped estimates of $27.83 billion. Comparable-store sales increased 6.3%, higher than an expected 4.9% gain.
Retail sales in July rose at a faster pace than anticipated, reaching a seven-month high in a positive sign that consumers were spending in the first month of the third quarter. Sales increased by 0.6%, according to the Census Bureau, higher than an expected rise of 0.4%. Core retail sales rose by 0.5%.
Manufacturing activity in the New York region reached to a three-year high in August. The Empire State Manufacturing Index increased by 15 points to 25.2, far better than an anticipated unchanged level of 9.8. Any level above zero suggests growth.
Business inventories increased in June at a faster pace than anticipated. The Census Bureau reported a 0.5% rise in manufacturers' and trade inventories in June, higher than a 0.4% expected gain. Sales climbed 0.3%.
The National Association of Home Builders' housing market index unexpectedly improved in August. The measure increased by 4 points to a level of 68. Homebuilder sentiment had reached an eight-month low in July. Analysts anticipated a retreat to 65.
The 10-year benchmark Treasury note was up firmly at 2.264% as prices fell. Bond prices move inversely to yields.
Oil prices slipped 0.1% to settle at $47.55 a barrel.
