Equities in Canada’s largest market flirted with negative territory Wednesday afternoon before finding their way into the green, mostly the result of resource strength.
The TSX Composite Index gained 38.86 points to conclude Wednesday at 24,106.79.
The Canadian dollar hiked 0.48 cents to 72.12 cents U.S.
In corporate news, Parkland said Bob Espey will step down as president and Chief Executive Officer of the oil and gas firm.
Shares in Parkland dipped 66 cents, or 2%, to $32.04.
Gold stocks were chief among gainers, as Iamgold grabbed 84 cents, or 8.1%, to $11.23, while Torex Gold leaped $4.33, or 9.9%, to $48.24.
In materials, K92 Mining marched 35 cents, or 2.7%, to $13.25, while Ivanhoe Mines advanced 42 cents, or 3.5%, to $12.45.
In energy stocks, MEG Energy gained 85 cents, or 4.4%, to $20.25, while Arc Resources took on $1.08, or 4.2%, to $26.83.
Industrials went the other way, however, as Finning International slid $1.72, or 4.4%, to $37.18, while Brookfield Business Partners doffed $1.30, or 4.4%, to 28,19.
In tech issues, Sylogist skidded 37 cents, or 4.3%, to $8.29, while Celestica lost $3.80, or 3.3%, to $111.60.
In consumer discretionary stocks, Linamar lost $1.88, or 3.9%, to $46.78, while BRP Inc. shed $1.68, or 3.5%, to $46.04.
The Bank of Canada held its benchmark interest rate steady at 2.75% on Wednesday, ending a run of seven consecutive cuts.
ON BAYSTREET
The TSX Venture Exchange popped 8.83 points, or 1.4%, to 638.87
The 12 subgroups were evenly split at the end, with industrials down 1.4%, information technology losing 1.3%, and consumer discretionary stocks, off 1.2%.
The half-dozen gainers were led by gold and energy, each up 1.6%, and materials, up 0.7%.
ON WALLSTREET
Stocks fell sharply on Wednesday, as a stark warning from Nvidia roiled global tech and concerns from Federal Reserve Chair Jerome Powell about the economic impact of tariffs raised alarm among skittish investors.
The Dow Jones Industrials cratered 699.63 points, or 1.7%, to greet Wednesday’s closing bell at 39,669.33.
The S&P 500 decreased 120.92 points, or 2.2%, to 5,275.74, dragged down by the information technology sector.
The NASDAQ Composite slid 516.01 points, or 3.1%, to 16,307.16
Shares of Nvidia sank 6.9%, on track for its worst day since January after the chip giant said it will post a $5.5 billion quarterly charge related to exporting its H20 graphics processing units to China and other nations.
The company said in a filing that the U.S. government required a license to send chips from the U.S. to China.
The stock was also under pressure after the New York Times reported that President Donald Trump’s administration was taking steps to crack down on Chinese startup DeepSeek, to which Nvidia provides chips.
Big tech also felt pressure. Meta Platforms slid more than 2%, while Google-parent Alphabet and Tesla each declined by more than 1%.
Other chipmakers followed Nvidia lower. AMD slid more than 8%, while Micron Technology slid more than 3%. Adding to the broader chip decline was a disappointing earnings report from ASML, whose U.S.-listed shares plunged more than 7%.
Prices for the 10-year Treasury were up Wednesday, easing yields to 4.28% from Tuesday’s 4.33%. Treasury prices and yields in opposite directions.
Oil prices gained $1.41 to $62.74 U.S. a barrel.
Prices for gold jumped $114.30 to $3,354.80 U.S.
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