The Toronto Stock Exchange recovered from an early-day plunge to finish flat on Wednesday, as investors absorbed news that economic growth stalled in July.

The S&P/TSX composite index closed at 11,394.96, unchanged from Tuesday’s close. The benchmark index had plummeted more than 100 points early in the day, after Statistics Canada reported that gross domestic product was flat in July, falling short of expectations.

Toronto’s benchmark index finished the month up 4.8%, and gained 9.8% for the quarter.

For a 30-minute period on Wednesday afternoon, technical difficulties prevented Standard & Poor’s from providing real-time data on its TSX indices. From 1:56 p.m. to 2:26 p.m. EDT, real-time intra-day index levels were not available for all of the S&P/TSX indices, the company said. The issue has since been resolved.

At the session’s close, most main groups on the TSX were little changed from the previous day’s close. Financial stocks slipped 0.2%.

Shares of Onex Corp. tumbled $1.69, or 6.1%, to close at $26.24.

Also lower was National Bank of Canada, off 1.5% to $59.54, and Industrial Alliance Insurance and Financial Services Inc., off 1.9% to $29.31.

Higher for the day was Dundee Corp., which saw its shares surge 9.1% to $11.16, and AGF Management Ltd., which rose 4.5% to $17.15.

Meanwhile, oil futures surged after U.S. data showed a surprising drop in gasoline inventories last week. November crude futures rose US$3.90, or 5.8%, to US$70.61 a barrel on the New York Mercantile Exchange. Oil prices, as gauged by front-month contracts, ended September’s trading up 0.9% and the quarter up 1%.

The energy group edged up 0.3% on Wednesday.

Shares of ShawCor Ltd. jumped 4.7% to $28.96 and Petrobank Energy and Resources Ltd. gained 3% to $44.25.

Also higher was Canadian Oil Sands Trust, up 2.5% to $30.75.

EnCana Corp.’s stock retreated by 1% to close at $62.00.

Gold for December delivery, the most actively traded contract, gained US$14.90, or 1.5%, to US$1,009.30 an ounce on the Comex division of the New York Mercantile Exchange. Gold prices, as gauged by front-month contracts, ended the month up 5.9% and the quarter up 8.7%.

The materials group finished up a modest 0.1%, while the sub-gold index dipped 0.1%.

Yamana Gold Inc. jumped 1.9% to $11.52, and Inmet Mining Corp. added 2.8% to $59.96.

Shares of First Quantum Minerals Ltd. gained $1.32, or 1.9%, to close at $70.00.

Lower was Agrium Inc., off 1.6% to $53.52, and Potash Corp., down 1.5% to $97.12.

The junior S&P/TSX Venture composite index added 4.46 points, or 0.4%, to close at 1,276.77.

The Canadian dollar surged during Wednesday’s trading, adding US1.28¢ to close at US93.40¢.

U.S. equities finished lower on Wednesday, as a report revealed that U.S. private sector employers dropped more jobs than expected from their payrolls last month. But the main indices finished the month with strong gains.

The Dow Jones industrial average fell 29.92 points, or 0.5%, to 9,776.82. The blue chip average finished the month up 2.3%, and gained 15% for the quarter.

The S&P 500 index fell 3.53 points, or 0.3%, to end at 1,057.08, leaving it up 3.6% for September and 15% ahead for the quarter.

The Nasdaq composite index shed 1.62 points, or less than 0.1%, to finish at 2,122.42, giving it a 5.6% monthly gain and a 15.7% jump for the quarter.

IE