North American markets finished lower on Tuesday as U.S. investors were spooked by a bombing in Saudi Arabia, and Canadian investors worried about the effects of the surging loonie.
The S&P/TSX composite index slipped 14.59 points to close at 6,702.91, after rising by as much as 26 points earlier in the session.
Gold was the leading sectoral loser, down 1.35% with the price of the metal off US$1.30 to US$349.90 in New York.
Kinross Gold fell 60¢ to $8.34, while Agnico-Eagle Mines dropped 54¢ to $14.40.
Slim gains in the energy and financial sectors helped temper the losses.
Energy stocks finished up 0.2% as oil prices jumped after suicide bombings in the world’s largest oil exporter, Saudi Arabia, reignited concerns over supply.
EnCana rose 62¢ to $48.50, and Precision Drilling finished up 51¢ to $50.76.
The influential financial sector was 0.2% higher as National Bank of Canada rose 43¢ to $35.95, while CIBC gained 95 ¢to close at $47.35. Sun Life Financial gained 45¢ to $28.70.
Techs were mixed with Nortel up 11¢ at $4.04 and Descartes up 12¢ at $3.10, but Zarlink Semiconductor slid 14¢ to $6.65.
Toronto volume was 205.1 million shares, valued at $2.1 billion. Decliners outnumbered advancers 594 to 515.
The S&P/TSX Venture Composite Index closed down 1.71 at 1,068.40
Trading was heavy on a volume of 38.8 million shares worth $13.5 million, with 198 advances, 217 declines and 490 issues unchanged.
In New York, stocks sagged after deadly bombing attacks aimed at Westerners in Saudi Arabia put investors on guard. At least 29 people were killed in the attack on expatriate housing compounds in the Saudi Arabian capital of Riyadh. Al Qaeda was suspected of being responsible.
The Dow Jones industrial average lost 47.48 points to 8,679.25. The S&P 500 slipped 2.81 points, or 0.3%, to 942.30. The Nasdaq composite index shed 1.72 points to 1,539.68.
The Canadian dollar closed above US72¢ for the first time in five-and-a-half years. The loonie finished at US72.09¢, up 0.17 of a cent from Monday’s close.