Canada’s main stock index was muted on Wednesday, as gains from upbeat earning results were offset by an over 1% decline in energy shares on lower oil prices.
The TSX Composite slid 32.54 points by noon EST to 19,543.05.
The Canadian dollar sank 0.13 cents at 72.49 cents U.S.
The industrial sector added strength following an 8.5% rise in shares of ATS Corporation after the automation solutions provider reported higher-than-anticipated revenue in the second quarter.
Fintech firm Nuvei Corporation’s shares climbed $4.71, or 10.2% to the top of the TSX at $51.28, after it beat third-quarter revenue estimates.
TC Energy shares rose 57 cents, or 1.2%, to $50.00 after the pipeline operator reported third-quarter profit above estimates, benefiting from higher demand for liquefied natural gas.
The utilities sector fell after a 31-cent, or 3.2%, drop in shares of Superior Plus to $9.50, following the chemical supplier’s third-quarter results.
Dundee Precious Metals was off 56 cents, or 5.8%, to $9.03 after the gold miner missed third-quarter revenue estimates.
On the economic docket, Statistics Canada reports building permits decreased 6.5% in September to $11.2 billion.
The TSX Venture Exchange lost 4.82 points to 513.37.
The 12 TSX subgroups were equal between gainers and losers. Real-estate tracked 1% higher, while consumer staples and industrials each stretched 0.5%.
The half-dozen laggards were weighed most by energy, down 1.9%, gold, sliding 1.7%, and materials, off 1.4%.
The S&P 500 slipped on Wednesday, struggling to extend its longest winning streak in about two years.
The Dow Jones Industrials plummeted 114.12 points to pause for lunch Wednesday at 34,038.48.
The much-broader index dumped 12.54 points to 4,365.72.
The NASDAQ faded 48.11 points to 13,591.75.
The S&P 500 is seeing its streak of positive sessions possibly snapped at seven, while the NASDAQ’s run of eight sessions was in danger.
These gains come after about 88% of S&P 500 companies have beaten earnings estimates this season, while slowing demand means that only 62% have also topped revenue expectations.
In other news, Rivian slipped nearly 2% even after posting better-than-expected results, while Robinhood sank 14% after posting significant declines in trading volumes. Warner Bros. Discovery sank 15% after posting a wider-than-expected loss, while Roblox popped 17% on strong results.
Earnings season continues after the bell with results from Walt Disney, Affirm Holdings and MGM Resorts.
Prices for the 10-year Treasury were higher, lowering yields to 4.53% from Tuesday’s 4.57%. Treasury prices and yields move in opposite directions.
Oil prices dipped $1.69 to $75.68 U.S. a barrel.
Gold prices sank 11 dollars to $1,962.50.