North American markets were mixed Tuesday with falling energy and mining shares pushing Toronto into the red, while falling oil prices and soothing words from Alan Greenspan gave a boost to New York indices.

At close, Toronto’s S&P/TSX composite index was off 11.83 or 0.12% to 9619.07, while the TSX Venture Exchange lost 13.92 points or 0.74% to 1872.36

In New York, the Dow Jones industrial average added 37.32 points or 0.36% to 10458.46. The Nasdaq gained 8.25 or 0.41% at 1999.32, while the Standard & Poor’s 500 index advanced 5.27 points or 0.45% to 1181.39.

The Canadian dollar was up 0.29 of a cent at US82.14¢ in late trading.

Crude oil futures dropped sharply after Greenspan’s remarks, with a barrel of light crude down 96¢ to US$56.05 on the New York Mercantile Exchange. The European Union also cut its economic growth forecast, OPEC began discussions on another output increase and traders took profits from the recent price runup.

As a result, the TSX energy sector slid 1.73%. Mining shares also slipped, falling 0.96% and tech stocks were off 0.86%. Gold and financial shares were up, restricting the slide on the TSX composite.

On Wall Street, the Federal Reserve chairman reassured investors that the recent rise in oil prices is unlikely to damage the economy. Speaking before a group of U.S. petrochemical producers, Greenspan said more refining capacity was needed, but that energy demand was already starting to soften in the face of crude oil futures nearing $60 per barrel. That stance, investors believed, could keep the Fed from raising rates aggressively.

Analysts, however, said that for the short-term, Greenspan’s comments didn’t change the fact that oil prices remain near their record highs and interest rates were on the rise, gradually or not.

In corporate news, Morgan Stanley was down $1.85 at US$56.45 after the company announced late Monday it would spin off its Discover Card unit into a separately traded company. Few analysts said the spinoff would result in increased value for either company, and Lehman Brothers downgraded Morgan Stanley’s stock after the announcement.

Pfizer Inc. cut its 2005 profit forecasts by 6% and unveiled a four-year, US$4 billion cost-cutting program. Implementing the program could cost up to US$6 billion through 2008, however. Pfizer gained 97¢ to US$26.909.