Baystreet.ca - Stocks fell Wednesday, weighed largely by resource issues, while investors were on tenterhooks for word from U.S. tech giant Nvidia (NASDAQ:NVDA).
The TSX Composite Index retreated 198.79 points, or 1.1%, to finish trading Wednesday at 23,135,35.
The Canadian dollar backslid 0.16 cents to 74.20 cents U.S.
Investors assessed earnings from the Royal Bank of Canada (TSX:RY) and the National Bank of Canada (TSX:NA), both of which reported higher third-quarter profits on Wednesday. RBC shares improved $3.34, or 2.1%, to $159,91, while National shares jumped $6.92, or 5.8%, to $126.81
In corporate news, Canadian energy firm Pieridae Energy Limited announced equity rights offering of $30 million, along with a standby offering of $25 million. Pieridae shares dropped two cents, or 6.2%, to 30 cents.
The information technology sector pulled down by a fall of $22.86, or 14.6%, to $133.88, in Kinaxis (TSX:KXS), after it announced its CEO, John Sicard, will retire from his role. Elsewhere in techs, Docebo (TSX:DCBO) stumbled $3.40, or 5.6%, to $57.91.
Materials wavered, with Ivanhoe Mines (TSX:IVN) descending $1.06, or 5.6%, to $17.93, while SSR Mining (NASDAQ:SSRM) dipped 35 cents, or 4.8%, to $6.94. In gold stocks, Iamgold faded 24 cents, or 3.5%, to $6.68, while OceanaGold (TSX:OGC) slipped 15 cents, or 5.6%, to $57.91.
Communications provided some positives, as Quebecor (TSX:QBRa) rose 61 cents, or 1.9%, to $33.24.
ON BAYSTREET
The TSX Venture Exchange fell 7.67 points, or 1.3%, to 565.36.
Eight of the 12 TSX subgroups were negative, with materials down 2.3%, gold dipping 2.1%, and information technology off 1.3%.
The four gainers were led by financials, up 0.6%, while communications each climbed 0.4%, and industrials up 0.1%.