Equities in Canada’s largest centre forfeited gains, as gold losses overcame strength of technology issues.
The TSX Composite Index gave back 0.24 points to conclude Wednesday at 17,167.82
The Canadian dollar slid 0.16 cents to 76.75 cents U.S.
Among techs, Quarterhill gained five cents, or 2.9%, to $1.75, while Sierra Wireless obtained 28 cents, or 2.3%, to $12.49.
Financials also fared well, as Sun Life climbed $1.54, or 2.5%, to $62.16, while Canadian Western Bank added 73 cents, or 2.3%, to $32.77.
In the consumer staples category, Cott Corporation surged 72 cents, or 4.1%, to $18.49, while Alimentation Couche-Tard jumped 67 cents, or 1.6%, to $43.32.
Gold fell way off the track Wednesday, with Eldorado Gold losing 72 cents, or 6.7%, to $9.98, while rival Alacer Gold settled 47 cents, or 6.7%, to $6.55.
Among other resource stocks, Silvercorp Metals sliced off 42 cents, or 5.7%, to $6.95, while First Majestic Silver doffed 98 cents, or 6.3%, to $14.56.
Energy took a hit, too, with EnCana Corporation off 48 cents, or 7.6%, to $5.87, while Baytex Energy slid 15 cents, or 7.3%, to $1.91.
ON BAYSTREET
The TSX Venture Exchange deleted 7.56 points to 577.91
Seven of the 12 TSX subgroups were positive, as information technology better by 1.2%, financials popped 0.9%, and consumer staples were better by 0.8%.
The five laggards were weighed most by gold, down 3.9%, while materials collapsed 2.8%, and energy went south 2%.
ON WALLSTREET
Stocks rose on Wednesday after President Donald Trump spoke about an attack by Iran on an Iraqi air base that houses American troops, which had led to a massive selloff in overnight trading.
The Dow Jones Industrials came off its highs of the day, but still gained a healthy 161.41 points to 28,745.09
The S&P 500 improved 15.87 points to 3,253.05.
The NASDAQ regained 60.66 points to 9,129.24, and hit an all-time high.
In the final minutes of trading, the major averages came off their highs amid unconfirmed reports of explosions near Baghdad’s Green Zone.
Trump said Iran appeared to be “standing down” after they attacked the Al Asad airbase. However, he added the U.S. will “immediately impose additional punishing economic sanctions on the Iranian regime.”
Boeing shares were down 1.8%. A Ukraine International Airlines Boeing 737 airliner burst into flames shortly after take-off from Tehran on Wednesday, killing all 176 people aboard in a crash that an initial report blamed on engine failure. Ukrainian officials later said, however, that the cause of the crash was yet to be determined.
At their worst levels of overnight trading, S&P 500 futures were down more than 1.6% along with NASDAQ 100 futures. Dow futures lost more than 400 points overnight.
Sentiment also got a boost after ADP and Moody’s Analytics said U.S. private payrolls soared by 202,000 last month. Economists polled by Dow Jones expected a print of 150,000.
Investors were initially rattled late Tuesday after U.S. military officials told the media the Al Asad airbase, which is located in western Iraq, had come under attack, with multiple projectiles hitting it.
Investors around the globe have been bracing themselves for a bigger conflict between Iran and the U.S. after last week’s assassination of Gen. Qasem Soleimani, a top-ranking Iranian military official.
Prices for the 10-Year U.S. Treasury slipped, raising yields to 1.87% from Tuesday’s 1.83%. Treasury prices and yields move in opposite directions.
Oil prices dropped $2.40 to $60.30 U.S. a barrel.
Gold prices removed 15 dollars to $1,559.3.10 U.S. an ounce.
