Canadian markets opened higher Tuesday, despite gold and oil prices falling back.
The Toronto Stock Exchange's benchmark index, the S&P/TSX composite, rose 24.65 points, or 0.21 per cent, to 11,536.91.
The Canadian dollar was off more than one cent U.S. to 94.42 cents U.S. early Tuesday, after closing at 95.5 cents U.S. on Monday.
Gold fell to $1,131.30 U.S. an ounce. It closed Monday at an all-time high of $1,139.20 U.S..
The price of oil was down to $78.53 U.S. a barrel after its previous close of $78.90 U.S..
Loblaw Cos. Ltd. posted a 20 per cent rise in third-quarter profit Tuesday. The company reported a profit of $189 million for the period ended Oct. 10, compared with $157 million in the corresponding period last year. However, sales declined slightly to $9.47 billion, down 0.2 per cent. Its shares were trading at $31.30, up 90 cents.
In the U.S., the Dow Jones industrial average fell 14.06 points, or 0.14 per cent, to 10,392.9 and the Nasdaq composite index lost 4.75 points, or 0.22 per cent, to 2,193 just after the bell.
Tuesday, the U.S. Labor Department said the producer prices index rose a less-than-expected 0.3 per cent following a 0.6 per cent drop in September, easing fears about inflation. Many expected producer prices to increase by 0.5 per cent last month. Core PPI fell 0.6 per cent, well off the 0.1 per cent rise analysts had expected.
"Overall, the report suggests further softness in the pipeline for consumer prices as the combination of the weak domestic economy and soft labour market conditions keep a lid on prices," said Millan Mulraine, economics strategist at TD Securities.
Home Depot, the world's largest home improvement retailer, reported third-quarter profit of $689 million U.S., or 41 U.S. cents a share, down from $756 million U.S., or 45 U.S. cents a share in the corresponding period last year. Sales declined eight per cent to $16.4 billion U.S..
Overseas markets were also lower. The eurozone trade balance rose to a seasonally adjusted 6.8 billion euros in September, up from an upwardly revised 2.2 billion euros in the prior month, the European Union's statistics office said Tuesday. Exports rebounded 5.5 per cent in the month, from a 4.1 per cent decline in August. Meanwhile, the U.K. inflation rate rose 0.2 per cent in October, pulling the annual inflation rate up to 1.5 per cent. The October increase was slightly higher than the 0.1 per cent increase expected and the first monthly increase in eight months.
London's FTSE fell 33.88 points, or 0.63 per cent, to 5,348.79 at midday. Frankfurt's DAX lost 22.13 points, or 0.38 per cent, to 5,782.69, and the Paris CAC dropped 19.93 points, or 0.52 per cent, to 3,843.23.
In Asia, Tokyo's Nikkei stock average closed down 61.25 points, or 0.63 per cent, to 9,729.93, and Hong Kong's Hang Seng index fell 29.83 points, or 0.13 per cent, to 22,914.15.
On Monday, the S&P/TSX added 104.58 points, or 0.92 per cent, to 11,512.26. The Dow gained 136.49 points, or 1.33 per cent, to 10,406.96, and the Nasdaq composite index closed at 2,197.85, up 29.97 points, or 1.38 per cent.
