Equities in Toronto faded a mite on Tuesday as lower prices for industrial and financial stocks weighed on investor moods.
The S&P/TSX Composite settled 27.11 points soon after Tuesday markets opened to 15,452.18
The Canadian dollar spiked 0.75 cents at 76.65 cents U.S.
A section of an intra-provincial oilfield pipeline belonging to Paramount Resources, under construction in Canada's oil heartland of Alberta, needs replacement after being damaged by an act of "mischief," authorities said on Monday.
The Royal Canadian Mounted Police said it appeared someone used construction equipment on site to dig up the pipeline, and they estimated the damages at $500,000 to $700,000.
Paramount shares forfeited three cents to $16.17
Portag3 Ventures, a financial technology fund backed by Power Financial, has invested an undisclosed amount in finance startup Street Contxt.
Power Financial shares faded three cents to $33.67
Canaccord Genuity cut the price target on Centerra Gold to $7.50 from $8.50 to reflect the lowered LOM Au/Cu recovery assumptions at Mt. Milligan.
Centerra shares were unchanged at $6.91.
Canaccord Genuity cut the price target on Goldcorp to $23.50 from $25.00 based on the Investor Day presentation and the new five-year plan.
Goldcorp shares boosted 29 cents, or 1.5%, to 19.44.
CIBC raised the price target on North West Company to $30.50 from $29 after the company announced a definitive purchase agreement to acquire 76% of Roadtown Wholesale Trading and its retail operation Riteway in the British Virgin Islands.
North West shares acquired 19 cents to $29.29
ON BAYSTREET
The TSX Venture Exchange eked up 1.16 points to 796.70
Five of the 12 subgroups were higher early Tuesday, as gold surged 1.9%, materials improved 0.9%, and energy gained 0.7%.
The four laggards were weighed most by industrials and financials, down 0.7% each, while information technology dropped 0.4%.
Consumer discretionary, health-care and telecom stocks were all static in the trading day’s first hour.
ON WALLSTREET
U.S. equities fell on Tuesday, with financials lagging, as uncertainty around President-elect Donald Trump's policies grew.
The Dow Jones Industrials faded 23.88 points to begin Tuesday at 19,861.85, with Goldman Sachs and UnitedHealth Group contributing the most losses.
The S&P 500 subtracted 4.7 points to 2,269.94, with financials dropping more than 1%.
The NASDAQ composite index decreased 24.93 points to 5,549.18
There are no major U.S. economic data due Tuesday, but a slew of firms reported quarterly results, including Morgan Stanley, which beat analyst expectations on both the top and bottom line. Morgan Stanley shares fell 2.3% early trade, however.
The stock market stateside has soared since the election partially on hopes of corporate tax reform, deregulation of certain sectors and more government spending. Trump's inauguration is scheduled for Friday.
Adding pressure to U.S. stocks were concerns of a hard Brexit. In a speech Tuesday, British Prime Minister Theresa May indicated the United Kingdom would seek a clean break from the European Union. She added, however, The U.K. government will put the Brexit deal it agrees with the European Union to a parliamentary vote.
Equity markets in the United States were shuttered Monday for Martin Luther King Day.
Prices for the benchmark 10-year Treasury note strengthened, lowering yields to 2.33% from Friday’s 2.4%. Treasury prices and yields move in opposite directions.
Oil prices gained 54 cents to $52.91 U.S. a barrel
Gold prices hiked $19.70 to $1,215.90 U.S. an ounce.
