The Toronto Stock Exchange and the Canadian Securities Exchange both finished in the red Wednesday as healthcare stocks lost their early-day trading lustre.
The TSX was down 20 points to 16,167.6, a slight decline of 0.1%. while the CSE ended the day down 0.2% at 826.4. The TSX Venture Exchange finished higher by 1.9 points to 638.
Canadian investors received clarity from the US Federal Open Market Committee that interest rates would remain steady throughout 2019.
Elsewhere, US President Donald Trump announced that he would keep tariffs on China for the foreseeable future, until he was sure that the government in Beijing would comply with a new deal.
Crude oil price rose 1.4% to finish the day at US$59.83 per barrel while Western Canadian Select prices were 2.3% higher at US$49.79.
Money seemed to be flowing back into gold. Spot prices were up to a healthy US$1,314.30 per ounce by the end of the day.
12:20: Canadian stocks mixed as markets await outcome of US Fed meeting
The TSX and the TSX Venture exchanges both fell on Wednesday morning as Canadian investors wait to hear the outcome of the US Federal Open Market Committee this afternoon.
The TSX opened at 16,142 and declined further to 16,123.63, while the TSX Venture began the day lower at 634.5 before climbing briefly and falling back again.
Bioscience companies were early standouts on the Big Board. Theratechnologies Inc (TSE:TH) (OTCMKTS: THERF) was up 8.7% to $7.52 after announcing a manufacturing agreement to supply the European market.
Other gainers were Aptose Biosciences Inc (TSE:APS), up 7.8% to $3.09, and Aurinia Pharmaceuticals Inc (TSE: AUP), up 6.9%).
READ: Aurinia Pharmaceuticals posts 4Q revenue of US$29 million
Mining stocks weighed down the exchange in early day trading. Gold Standard Ventures (TSE:GSV) saw its share price fall 6.1% to $1.31, while Franco-Nevada (TSE:FNV) (NYSE:FNV), which just reported lower-than-expected earnings, was down 5.2% to $95.61.
The Canadian Securities Exchange was up a modest 0.2% to 830.1 points. Morning movers were Global Blockchain Mining Corp (CSE:FORK), whose shares doubled to $0.01 and NHS Industries Ltd (CSE:NHS), up 56% to $0.09.
Crude oil prices, which saw a rally in recent days, also fell in early Wednesday trading to US$58.58.
The Canadian dollar stayed relatively flat at US$0.74, while spot gold was down 0.3% to US$1,303.
Contact Angela Harmantas at angela@proactiveinvestors.com
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