Tuesday proved another day of losses for markets in Toronto, mainly at the feet of resource stocks.
The S&P/TSX Composite Index remained negative 49.6 points to end Tuesday at 15,919.43
The Canadian dollar inched down 0.12 cents to 78.76 cents U.S.
Aphria Inc surged $1.85, or 15.9% to $13.47 after saying it had reached a deal to supply medical cannabis to Loblaw's pharmacy chain Shoppers Drug Mart.
Rival Canopy Growth gained 48 cents, or 2.6%, to $18.73
Tech stocks fared well, as Constellation Software jumped $16.26, or 2.2%, to $765.49.
The heavyweight energy group was little changed, while Imperial Oil gained 18 cents to $39.66. Meantime, Kinder Morgan Canada Ltd fell 44 cents, or 2.6%, to $16.61 after saying late on Monday that the start-up of its Trans Mountain pipeline expansion could be delayed past September 2020.
The materials group, which includes precious and base metals miners and fertilizer companies, lost ground as miners of copper, nickel, zinc and other base metals were hit hard by falling commodity prices.
First Quantum Mineral fell 67 cents, or 4.4% to $14.57 and Lundin Mining lost 14 cents, or 2% to $6.92 as copper prices declined 3.5% to $6,588 U.S. a tonne, the lowest level in nearly two months.
Gold stocks settled as well, as Goldcorp dropped 35 cents, or 2.2%, to $15.61, while Barrick Gold eased 15 cents to $17.51.
The financials group slipped as bank earnings season wrapped up, with Bank of Montreal slipping 45 cents to $99.14 despite reporting adjusted profit that beat analysts' estimates and Bank of Nova Scotia down 48 cents to $81.14 after its bid for a majority stake in BBVA Chile was formally accepted.
On the data beat, Statistics Canada reported that Canada's international merchandise trade deficit with the world totaled $1.5 billion in October, narrowing from a $3.4-billion deficit in September. Exports were up 2.7% while imports decreased 1.6%
The TSX Venture Exchange dropped 3.5 points to 783.94
Eight of the 12 TSX subgroups were down by day's end. Materials fell 1%, while gold swooned 0.8% and financials were off 0.6%.
The four gainers were led by health-care, up 0.9%, information technology, making their way 0.3% higher, and energy, up 0.1%.
U.S. equities closed lower on Tuesday as a gain in tech stocks failed to lift the broader market higher.
The Dow Jones industrials subtracted 109.41 points from Monday's all-time high to 24,180.64
The S&P 500 fell 9.87 points to 2,629.57, with telecommunications, industrials and utilities lagging. The index posted its first three-day losing streak since August. The information technology sector closed 0.2% higher and was the only advancing sector. Facebook, Netflix and Google-parent Alphabet all closed higher.
The NASDAQ deducted 13.15 points to 6,762.21
Tech — the best-performing sector this year — has taken a hit recently, sliding about 4% over the past week, as investors digest a major tax bill passed by Senate members.
Financials, meanwhile, are up more than 3% over the past week. In theory, the proposed changes would help banks and financials more than tech companies, since they currently pay a higher effective tax rate.
In corporate news, Snap shares shot 10.1% higher after Barclays said the social media could hit a "turning point" in 2018.
McDonald's stock gained 1.4% to lead the Dow after Jefferies upgraded it to buy from hold. In a note to clients, they said McDonald's "use of data and technology … should attract a higher multiple over time, while leading to higher returns."
Disney fell nearly 3% after various media reported it was close to buying key assets from 21st Century Fox.
Prices for the benchmark 10-year Treasury note gained, lowering yields to 2.35% from Monday's 2.37%. Treasury prices and yields move in opposite directions.
Oil prices nosed up 18 cents a barrel to $57.65 U.S.
Gold prices faded $8.60 to $1,269.10 U.S. an ounce.