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Toronto Dips into Red by Close

Equities in Canada’s biggest markets failed to hold onto gains Wednesday, and fell into negative country ...

Equities in Canada’s biggest markets failed to hold onto gains Wednesday, and fell into negative country by the end of the session.

The S&P/TSX Composite Index slid 15.63 points to close Wednesday at 15,082.21

The Canadian dollar took on 0.83 cents to 79.23 cents U.S.

Base-metal miner Teck Resources was up $1.43, or 2.3% to $29.75, while First Quantum Minerals rose $1.17, or 9.6% to $13.40. HudBay Minerals jumped $1.07, or 11.7%, to $10.25.

The overall materials group, which includes base metals mining companies, added strength as the price of zinc rose to its highest in almost a decade on construction spending in China, and copper and nickel prices also traded higher.

Gold stocks also soared, with Kinross Gold jumped 21 cents, or nearly 4%, to $5.53, while Kirkland Lake Gold popped 64 cents, or 4.7%, to $14.15.

In the tech field, Descartes Group Limited gained 22 cents to $34.48, while Constellation Software gained 22 cents to $700.55.

Health-care shares declined as Canopy Growth was unchanged at $8.91.

Energy stocks rumbled lower, as Suncor lost 78 cents, or 1.9%, to $39.94.

Industrial stocks also moved lower, as Bombardier eased off three cents, or 1.3%, to $2.62, while Canadian National Railways shed 72 cents to $101.38.

On the macroeconomic scene, Statistics Canada reported that foreign investors reduced their holdings of Canadian securities by $923 million in June, the first monthly divestment since July 2015.

At the same time, Canadian investment in foreign securities amounted to $13.2 billion, led by acquisitions of equities.

Also, in Canada, talks commenced with the United States and Mexico on modernizing the North American Free Trade Agreement.

ON BAYSTREET

The TSX Venture Exchange ditched 0.38 points to 769.49

Seven of the 12 TSX subgroups turned negative on the day, as health-care moved lower 1.4%, energy slid 1.2%, and industrials deflated 0.7%.

The five gainers were led by materials, up 1.7%, gold, up 1.2%, and information technology improved 0.3%.

ON WALLSTREET

U.S. equities closed higher Wednesday but backlash from the business community against President Donald Trump kept gains in check.

The Dow Jones Industrials held onto gains of 25.88 points to close Wednesday at 22,024.87, with Home Depot and United Technologies contributing the most gains.

The S&P 500 gained 3.5 points to 2,468.11, with materials outperforming

The NASDAQ jumped 12.1 points to 6,345.11, as shares of Apple hit a record high.

Earnings-wise, NetApp and Cisco Systems reported today.

Earlier on Wednesday, the president's Strategic and Policy Forum disbanded. The disbanding came as backlash against Trump grew following remarks he has made following the violent protests in Charlottesville.

On Tuesday, Trump Stocks briefly popped after the Federal Reserve released the minutes from its July 26 meeting this afternoon. The minutes showed Fed officials were split over the path of future monetary policy. Some officials preached caution while another raised concern over delaying the normalization process.

Investors also digested weaker-than-expected housing data, as housing starts and permits fell unexpectedly last month.

Prices for the benchmark 10-year Treasury note gained ground, lowering yields to 2.23% from Tuesday’s 2.26%. Treasury prices and yields move in opposite directions.

Oil prices capsized 76 cents to $46.79 U.S. a barrel

Gold prices regained $8.20 to $1,287.90 U.S. an ounce.