(MENAFN- Baystreet)
More Losses at Open for TSX
IPCO, Vermilion Down
Equities opened flat in Toronto on Wednesday as gains following a pullback in government bond yields were offset by losses in materials and energy shares.
The TSX Composite lost 55.01 points, to open the midweek session at 18,965.91.
The Canadian dollar skidded 0.19 cents at 72.75 cents U.S.
Real-estate issues made up for their weak performance Tuesday, as units of Northwest Healthcare Partners picked up 24 cents, or 5%, to $5.02, while Allied Properties REIT gained 46 cents, or 2.7%, to $17.49.
Energy stocks proved a washout in the early going, with shares of International Petroleum sagging 62 cents, or 4.9%, to $12.02, while Vermilion Energy got tagged 75 cents, or 4%, to $18.08.
ON BAYSTREET
The TSX Venture Exchange dropped 3.49 points to 532.77.
Seven of the 12 TSX subgroups were making progress in the first hour, with real-estate leading the way, up 1.4%, while industrials and information technology each climbing 0.5%.
The five laggards were weighed most heavily by energy, plunging 2.7%, while gold and materials each dumped 0.4%.
ON WALLSTREET
The S&P 500 rose slightly Wednesday as Treasury yields pulled back from multiyear highs following the release of much weaker-than-expected jobs data.
The Dow Jones Industrials dropped 86.43 points to begin Wednesday at 32,915.95.
The much-broader index sagged 3.21 points to 4,226.24.
The NASDAQ index recovered 39.5 points to 13,098.97.
Energy stocks were among the worst performers in the S&P 500. Philips 66, Occidental Petroleum, Schlumberger N.V. and Devon Energy all declined more than 3% as crude prices fell.
Consumer discretionary was the best-performing sector, rising more than 1%. Etsy and Tesla led the sector gains, gaining more than 2% each.
ADP said Wednesday 89,000 private payrolls were added last month. That's well below a Dow Jones forecast of 160,000 and fewer than an upwardly revised 180,000 payroll additions from August.
The ISM nonmanufacturing index came in at 53.6 for September, slightly below a StreetAccount forecast of 53.7. To be sure, that's below the August reading of 54.5.
Prices for the 10-year Treasury regained lost strength, lowering yields to 4.79% from Tuesday's 4.80%. Treasury prices and yields move in opposite directions.
Oil prices retreated $2.57 to $86.66 U.S. a barrel.
Gold prices faded $7.70 to $1,833.80.
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