Equity markets in Canada’s largest centre fell at open on Wednesday after four consecutive sessions of gains, weighed by losses in shares of energy and health-care stocks.
The TSX Composite Index started Wednesday off 43.48 points to 17,031.72
The Canadian dollar gained 0.24 cents at 76.22 cents U.S.
Endeavour Mining will not share information vital to assessing its value until an extension to a deadline for making an offer for Centamin is agreed, London-listed Centamin said.
Berenberg cut the price target on Endeavour to $28.00 from $29.10. Endeavour sank 42 cents a share, or 1.8%, to $23.44.
CIBC raised the price target on Altagas to $22 from $21. Altagas took on a nickel to $19.83.
Canaccord Genuity raised the price target on Fairfax India Holdings to $18.75 from $15.75. Fairfax shares were unchanged at $451.00.
On the economic slate, Statistics Canada reported 448,100 people received regular employment insurance benefits in October, similar to the previous month.
The agency also said its consumer price index rose 2.2% on a year-over-year basis in November, following a 1.9% increase in each of the previous three months.
On a seasonally-adjusted monthly basis, the CPI rose 0.1% in November.
ON BAYSTREET
The TSX Venture Exchange skidded 1.25 points to 542.30
All but two of the 12 subgroups lost ground, with health-care slumping 0.8%, while materials lost 0.7%, and industrials dipped 0.5%.
The two gainers were real-estate, eking up 0.2%, and information technology, ahead 0.1%.
ON WALLSTREET
Stocks rose slightly on Wednesday as Wall Street tried to extend its winning streak to six days. However, gains were kept in check as investors digested weak earnings from shipping giant FedEx.
The Dow Jones Industrials gained 25.45 points, on top of Tuesday’s record close to begin the session at 28,292.61
The S&P 500 added 1.17 points to 3,193.69, also for a new peak.
The NASDAQ added 3.55 points to Tuesday’s all-time record, at 8,826.91.
The market’s current winning streak comes after President Donald Trump and Chinese officials announced that the world’s two largest economies had agreed on a so-called "phase-one" deal.
But Wednesday’s session got off to a slow start after FedEx shares dropped more than 7% on disappointing quarterly numbers. The company’s earnings and revenue missed analyst expectations. FedEx also cut its guidance for the rest of its fiscal year.
FedEx cited weaker economic conditions across the globe and losing a “large customer.”
General Mills shares climbed more than 1% in the pre-market after the company posted a quarterly profit that topped analyst expectations. General Mills also reaffirmed its fiscal year earnings outlook.
Prices for the 10-Year U.S. Treasury were lower, raising yields to 1.91% from Tuesday’s 1.88%. Treasury prices and yields move in opposite directions.
Oil prices lopped off 0.51 cents to $60.43 U.S. a barrel.
Gold prices moved backward $2.30 at $1,478.30 U.S. an ounce.
Sixth Straight Day of Gains for U.S. Stocks
