Markets in Canada’s biggest centre were flat at open on Tuesday following its biggest daily surge in more than six weeks in the previous session, as losses in mining stocks hindered the index's advance.
The S&P/TSX Composite Index gave back 9.25 points to begin Tuesday’s session at 16,218.81
The Canadian dollar sank 0.12 cents at 75.01 cents U.S.
Australian cobalt developer Jervois Mining on Tuesday said it would buy out Canada-based Ecobalt Solutions, for $57.6 million, to expand its geographical footprint into the United States.
Ecobalt gained 1.5 cents, or 4.6%, to $34 cents.
RBC raised the target price on Corus Entertainment to $7.50 from $7.00.
Corus shares squeezed up seven cents, or 1.6%, to $6.09.
Canaccord Genuity cut the target price on Roots Corp. to $5.00 from $6.00. Roots moved ahead three cents to $4.15.
ON BAYSTREET
The TSX Venture Exchange slid 2.65 points to 623.54
The 12 Toronto subgroups were evenly divided between gainers and losers, as gold improved in price 0.5%, materials and health-care each fighting its way up 0.1%.
The half-dozen laggards were weighed most by real-estate, 0.6% less solid, while consumer discretionary and industrial stocks each lost 0.3%.
ON WALLSTREET
Stocks fell on Tuesday as investors digested a strong rally from the previous session, while a decline in Walgreens Boots Alliance shares also dampened sentiment.
The Dow Jones Industrials settled 82.74 points to 26,175.68, as Walgreens lagged.
The S&P 500 handed back 1.81 points to 2,865.38. Consumer staples proved the worst-performing sector in the S&P 500, sliding about 0.5%. Real-estate and utilities also dipped.
The NASDAQ Composite slid 3.73 points to 7,825.18
A sharp decline in Walgreens Boots Alliance also kept the market in check on Tuesday. Shares of the Dow member fell 11.7% on weaker-than-expected earnings. Walgreens also lowered its earnings forecast for 2019.
Walgreens results come ahead of what Wall Street expects to be a tough earnings season. Experts opine that first-quarter earnings for the S&P 500 will fall nearly 4% from the year-earlier period.
AngioDynamics and Dave & Buster's Entertainment are also among firms reporting earnings Tuesday.
U.S. manufacturing activity expanded last month, data showed, rebounding from its lowest level since late 2016. A separate survey showed China's factory activity also rebounded, expanding at its fastest pace in eight months.
Data released Tuesday showed capital goods orders fell 0.1% in February, while economists expected an unchanged reading.
Prices for the benchmark 10-year U.S. Treasury gained slightly, lowering yields to 2.49% from Monday’s 2.5%. Treasury prices and yields move in opposite directions.
Oil prices obtained 72 cents to $62.31 U.S. a barrel.
Gold prices dipped 40 cents to $1,293.80 U.S. an ounce.
