Canada's main stock index fell on Wednesday after a four-day winning streak as investors digested monetary policy commentary from the Bank of Canada and news of a shooting in Ottawa.
The S&P/TSX composite index tumbled 93.67 points to greet noon at 14,454.04
The Canadian dollar inched higher 0.06 cents at 89.17 cents U.S.
Investors also processed reports that a gunman shot a soldier at the Canadian War Memorial in Ottawa and was chased by police into the main parliament building, where at least 30 more shots were fired.
Financials fell as Royal Bank of Canada lost 0.9% to $79.34, and Bank of Nova Scotia dropped 1.4% to $67.01.
Shares of energy producers shed strength, as Suncor Energy gave back 1.2% to $38.39, and Talisman Energy was down 2% at $7.57.
On the economic docket, Statistics Canada reported that retail sales declined 0.3% in August to $42.4 billion. This second consecutive monthly decrease follows gains in the six previous months. The agency added that sales were down in seven of 11 sub-sectors, representing 76% of retail trade.
The Bank of Canada rate announcement surprised no one. The central bank maintained its target for the overnight rate at 1%, and the deposit rate is ¾%. The overnight lending rate has been stationed at 1% for several years now.
ON BAYSTREET
The TSX Venture Exchange faded 3.85 points to 818.43.
All but one of the 14 Toronto subgroups were lower, as gold descended 2.1%, metals and mining dropped 2%, and materials shed 1.5%.
The lone holdout was in consumer discretionaries, up 0.01%.
ON WALLSTREET
U.S. stocks edged lower on Wednesday, following sharp gains from the previous two sessions, which have sent the S&P 500 above its key, 200-day moving average.
The Dow Jones Industrials fell 27.17 points to 16,587.64, after a jump of more than 200 points Tuesday.
The S&P 500 gained 2.14 points to 1,943.42. The NASDAQ index lopped off 0.28 points to 4,419.20.
Boeing shares fell 1.7% despite beating profit expectations. The aerospace company again raised its earnings forecast for the year.
Dow Chemical shares climbed 1.4% after the company’s adjusted third-quarter earnings of 72 cents U.S. a share came in above the FactSet consensus estimate of 67 cents U.S. Revenue also exceeded analyst forecasts of $14.32 billion U.S.
Biotech firm Biogen Idec reported better-than-expected third-quarter results and lifted its full-year earnings outlook. Shares had been up in pre-market trade after the report, but later dropped 8%.
Yahoo Inc. shares rose 4.7%, after the online search provider posted better-than-expected third-quarter results late Tuesday.
Tekmira Pharmaceuticals Corp. shares popped up 11% ahead of the bell, with the company saying it has started limited manufacturing of a new therapeutic drug targeting the Ebola virus.
Interdealer broker BGC Partners Inc. plans to make a hostile bid to buy rival GFI Group Inc. for $675 million U.S., The Wall Street Journal reported, according to people familiar with the matter.
Tesla Motors Inc. fell slightly after Daimler AG on Tuesday said it has sold its 4% stake in the electric car maker.
The U.S. Labor Department's Consumer Price Index edged up 0.1% in September after falling 0.2% the prior month.
Prices for 10-year U.S. Treasuries fell, raising yields to 2.24% from Monday’s 2.21%. Treasury prices and yields move in opposite directions.
Oil prices lost 11 cents to $82.38 U.S. a barrel.
Gold prices slipped $8.30 to $1,243.40 U.S. an ounce.
