By Wallace Witkowski, MarketWatch
SAN FRANCISCO (MarketWatch) — Canadian stocks traded lower for the fourth session in a row Wednesday, as strength in the mining sector gave way to losses in the utilities and energy sector.
Shares of Atco Ltd. /zigman2/quotes/200385730/delayed CA:ACO.X +1.40% , Canadian Utilities Ltd. /zigman2/quotes/204408454/delayed CA:CU +1.27% , and Emera Inc. /zigman2/quotes/201220361/delayed CA:EMA +0.48% led the utilities sector lower.
The S&P/TSX Composite Index fell 0.2% to 11,326.08 with the S&P/TSX Capped Utilities Index XX:TORGC199 +0.23% down 0.9% for the day.
Another big drag was the S&P/TSX Capped Energy Index XX:TORGC187 -0.39% , which fell 0.7%.
Shares of Suncor Energy Inc. /zigman2/quotes/204570600/delayed CA:SU -1.02% fell 0.8%, Canadian Natural Resources Ltd. /zigman2/quotes/203742161/delayed CA:CNQ +0.74% fell 0.4%, and Husky Energy Inc. /zigman2/quotes/205838959/delayed CA:HSE -0.53% dropped 0.6%.
Earlier in the session, the mining sector had supported the exchange in positive territory. The Diversified Metals and Mining Index closed up 1.4%.
Shares of Ivanhoe Mines Ltd. /zigman2/quotes/207656050/delayed CA:IVN 0.00% rose 3.7%, First Quantum Minerals Ltd. /zigman2/quotes/209694942/delayed CA:FM +0.17% advanced 5.3%, Lundin Mining Corp. /zigman2/quotes/201246870/delayed CA:LUN +2.68% gained 1.9%, Barrick Gold Corp. /zigman2/quotes/209252292/delayed CA:ABX -2.23% advanced 1.4%, Goldcorp Inc. added 1.3%, and Yamana Gold Inc. /zigman2/quotes/206359073/delayed CA:YRI -0.89% rose 2.7%.
Oil for June delivery /zigman2/quotes/209724914/delayed CLM22 -0.24% fell 1.2% to settle at a new six-month low of $92.81 a barrel, and gold for June delivery /zigman2/quotes/210036777/delayed GCM22 -0.24% dropped 1.3% to settle at a 10-month low of $1,536.60 an ounce on the New York Mercantile Exchange.
The Canadian dollar continued its fall against its U.S. counterpart /zigman2/quotes/210561978/realtime/sampled USDCAD -0.2458% with the greenback buying C$1.0120, compared with C$1.0065 late Tuesday.