(CORRECTS ERROR IN WALL STREET INDICATORS SECTION)
Stocks in Canada’s largest centre fell backward soon after Tuesday’s open, weighed by large energy companies as oil prices fell, as well as losses for big banks and gold miners.
The S&P/TSX Composite dropped 95.83 points to begin Tuesday’s session at 14,523.63.
The Canadian dollar eked higher 0.03 cents at 75.58 cents U.S.
Rogers Communications said Monday it will incur third-quarter losses of between $100 million to $140 million as its joint venture, Shomi video streaming service, is shut down.
Rogers shares acquired a dime to $55.89.
Dundee cut the target price on Spectra7 Microsystems to $0.75 from $1.10, with a buy rating.
Spectra shares dropped 3.5 cents, or 9.5%, to open at 33.5 cents.
J.P. Morgan raised the rating on Novagold Resources to overweight from neutral.
Novagold gained 14 cents, or 1.9%, to $7.40.
Canaccord Genuity initiated coverage on Laurentian Bank of Canada with a buy rating and $54.00 price target. Laurentian shares gained 20 cents to $48.80.
ON BAY STREET
The TSX Venture Exchange fell 4.24 points at 801.56
All but one of the 12 TSX subgroups were pointed downward, as energy trailed Monday’s close 1.9%, gold slid 1.5%, and materials were weaker by 1.3%.
The one gainer was in information technology, up 0.3%.
ON WALL STREET
U.S. stocks rose on Tuesday following the first presidential debate between Hillary Clinton and Donald Trump.
The Dow Jones Industrials regained 82.18 points to 18,177.01, with IBM contributing the most gains.
The S&P 500 hiked 7.98 points to 2,154.09, with information technology leading advancers
The NASDAQ Composite restored 28.67 points to 5,286.16
The consensus was that Clinton held a slight edge over Trump in public perception, accounting the rise in equities. But the edge remains slight and could be altered by events of the next two weeks. The second of three debates between Trump and Clinton will be held October 9.
Also on market watchers' radars was Deutsche Bank, which saw its shares hit a fresh all-time low on Tuesday, weighing on European equities.
Deutsche's U.S.-listed shares plunged more than 7% Monday after German Chancellor Angela Merkel said the German government would not help the bank with its U.S. legal troubles.
On the data front, the S&P CoreLogic Case-Shiller 20-City Composite index rose 5% year over year, slightly below the expected 5.1% increase. The September Markit Flash U.S. Services PMI was also released, showing expansion. Other data sets due Tuesday include consumer confidence and the Richmond Fed manufacturing index.
Prices for the 10-year Treasury gained, lowering yields to 1.56% from Monday’s 1.58%. Treasury prices and yields move in opposite directions.
Oil prices dropped $1.14 to $44.79 U.S. a barrel
Gold prices faded $13.00 at $1,331.10 U.S. an ounce.
