TSX flat as downbeat earnings offset energy gains
- The Toronto Stock Exchange's S&P/TSX composite index was down 7.43 points, or 0.05%, at 16,072.12.
- On the TSX, 141 issues were higher, while 74 issues declined for a 1.91-to-1 ratio favouring gainers, with 15.65 million shares traded.
Canada's main stock index was muted on Tuesday, as dismal earnings from Teck Resources Ltd and Restaurant Brands International Inc offset strength in energy stocks.
At 9:41 a.m. ET (13:41 GMT), the Toronto Stock Exchange's S&P/TSX composite index was down 7.43 points, or 0.05%, at 16,072.12.
The energy sector climbed 0.6% as US crude prices were up 0.7% a barrel, while Brent crude added 0.6%.
The materials sector, which includes precious and base metals miners and fertilizer companies, recouped early losses and added 0.1% as gold futures rose 0.1% to $1,904.6 an ounce.
Teck Resources shed 5.6%, the most on the TSX, after the company missed analysts' estimates for quarterly profit, hurt by a steep drop in the prices of steelmaking coal.
The second-biggest decliner was Restaurant Brands International, down 2.9% after the restaurant chain posted third-quarter profit below analysts' estimates.
On the TSX, 141 issues were higher, while 74 issues declined for a 1.91-to-1 ratio favouring gainers, with 15.65 million shares traded.
The largest percentage gainer on the TSX were Colliers International Group Inc, which jumped 10.5% after the real estate service provider reported upbeat quarterly results.
Cenovus Energy Inc rose 5.2%, marking its second session in black, two days after the oil producer said it would buy rival Husky Energy Inc.
The most heavily-traded shares by volume were Nevada Copper Corp, Bank of Montreal, and Royal Bank of Canada.
The TSX posted no new 52-week highs and no new lows.
Across all Canadian issues there were one new 52-week highs and two new lows, with a total volume of 27.25 million shares.