Toronto's main index cut losses in mid-afternoon trade Tuesday as commodity prices came off their lows, but remained in the red zone. Financial stocks struggled to get a firm foot-hold, in spite of an impressive earnings report from Scotiabank (BNS.TO).
The S&P/TSX Composite Index was down 12.64 points or 0.11% to 11951.21, after touching an intraday low of 11908.58. In the previous week, the index recorded its biggest weekly advance since November, and reached a new closing high for 2010 on Friday.
The Energy Index gave in 0.39%, with Suncor Energy Inc. (SU.TO) down 1.62% and Imperial Oil Ltd. (IMO.TO) down 0.23%.
Renewable energy development company US Geothermal Inc. (GTH.TO), which announced plans to raise nearly $8.6 million by issuing approximately 8.2 million shares of common stock at a price of $1.05 per share, surrendered 10.48%.
Crude oil April was down $0.30 to $81.57 a barrel, bouncing back from a low of $80.16.
The Gold Index lost 0.27%. Red Back Mining Ltd. (RBI.TO) shed 0.73% and Agnico-Eagle Mines Ltd. (AEM.TO) eased 1.21%.
April gold eased $3.60 to $1120.40 a troy ounce.
Minco Gold Corp. (MMM.TO), which announced the discovery of a gold zone on its Oujiaba property in China, surged 24.47%.
Canada's third largest lender Scotiabank (BNS.TO), which reported Tuesday a 17% rise in first-quarter net income, was down 1.12%. National Bank (NA.TO) eased 1.10%.
Canada's five biggest banks earned a combined $5.09 billion in the first-quarter of 2010 compared to $2.97 billion in 2009, with profits soaring nearly two-third, the Canadian Press said. Quarterly earnings of four of the majors, with the exception of RBC (RY.TO), topped analysts' estimates.
The Information Technology Index was up 0.38%. Research In Motion Ltd. (RIM.TO) rose 0.77% and Celestics Inc. (CLS.TO) added 1.45%.
Among consumer staples, Maple Leaf Foods Inc. (MFI.TO) was down 1.78% while Metro Inc. (MRU-A.TO) gained 1.73%.
Convenience retailer Alimentation Couche-Tard Inc. (ATD_B.TO) eased 0.21%. The company reported a third-quarter net income that declined to US$54.8 million from US$71.1 million in the comparable quarter.
In economic release from across the border, the IBD/TIPP Economic Optimism Index in March fell 1.4 points to 45.4 from 46.8 in February. Economists were expecting a rise to 48.9. A reading below 50 indicates pessimism.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.