Slumping gold and health care stocks weighed on the TSX Thursday, while U.S. markets ended mixed despite strong GDP data. The S&P/TSX composite index gained 8.93 points to close at 7,739.41.
U.S. gross domestic product surged at a 7.2% annual rate in the third quarter — its fastest clip in more than 19 years — as consumers went on a buying spree.
In Toronto, the TSX gold index led the losing sectors, falling 2.3%. Agnico Eagle plunged $4.08 to $14.35 after it reported a net loss of $11.9 million in the third quarter because of drilling difficulties at its LaRonde mine.
Goldcorp fell 88¢ to $19.95, and Bema Gold shed 21¢ to $4.18.
The TSX health care index tumbled 1.6%, largely because of a 10% sell-off in Biovail stock. The drug company reported Q3 earnings that came in far below even the company’s own lowered expectations.
The metals and mining index was the star performer in Toronto, rising 2.5%. Sherritt gained 22¢ to $5.12, while Inco added $1.40 to $42.75.
In other earnings news, Thomson Corp. rose 88¢ to $42.63, after the electronic publisher reported a quarterly profit that topped estimates.
Toronto volume was with 252 million shares. Momentum was positive with advancers topping decliners 637 to 586.
The junior S&P/TSX Venture composite index rose 1.21 points to 1,533.86.
On Wall Street, markets ended near the unchanged mark in heavy trading following the release of the surprisingly strong GDP report.
The Dow Jones industrial average ended up 12.08 points at 9,786.61. The broader S&P 500 closed down 1.17 points at 1,046.94. The tech-heavy Nasdaq composite index fell 3.87 points to close at 1,932.69.
The Canadian dollar closed below the US76¢ for the first time in nine days. It lost a quarter of a cent and ended the day at US75.99¢ in official Bank of Canada trading.