On Tuesday, the Toronto stock market finished slightly changed as traders expected for a favourable forecast from the Alcoa Inc. when the resource giant hit the fourth-quarter corporate earnings season after closing the trade.
The S&P/TSX composite index a bit up 5.26 points to 12,504.81 while the TSX Venture Exchange climbed 1.49 points to 1,225.38. The Canadian dollar plunged 0.1 of a cent to 101.35 cents US.
The U.S. markets were lower as the Dow Jones industrials lost 55.44 points to 13,328.85, the Nasdaq declined 7 points to 3,091.81 and the S&P index slumped 4.74 points to 1,457.15. Alcoa accomplished the profit expectations, turning in the earnings per share of six cents. The revenue emerges in at US$5.9 billion, handily defeating the expectations of $5.6 billion.
The metals and mining sector led losers on the TSX, decline 1.17 per cent as the March copper contract on the New York Mercantile Exchange decline a penny to US$3.67 a pound. Teck Resources slid 95 cents to C$36.20 while the First Quantum Minerals kicked off 17 cents at $21.54.
The Oil prices erased its early gains ahead of the release of data expected to indiacte a rise of 1.5 million barrels in the crude oil stocks and 2.6 million barrels in the gasoline stocks last week, according to the survey of analysts by Platts, the energy information arm of the McGraw-Hill Cos.