Canadian markets opened lower on weak data out of Europe and falling commodities, even as earnings and housing data out of the U.S. showed the economy there improving.
The Toronto Stock Exchange's S&P/TSX composite index was down 20.53 points, or 0.18 per cent, to 11,614.21 in early trading.
Oil was down 99 cents to $79.32 U.S. a barrel, while gold fell $1.40 to $1,111.70 U.S. an ounce.
The Canadian dollar, meanwhile, lost seven basis points to 95.84 U.S. cents.
In earnings, Sears Canada Inc. reported a 29.4 per cent rise in fourth-quarter profit Tuesday. Sears earned $128.2 million, or $1.19 a share, compared with $99.2 million, or 92 cents a share, in the same period last year. Its shares were up 25 cents to $26.
TransCanada Corp. posted fourth quarter net income of $381 million, or 56 cents a share, up 37.5 per cent from $277 million, or 46 cents a share, last year. The pipeline operator's shares were down five cents to $34.60.
Meanwhile, George Weston Ltd., which owns grocery giant Loblaw Cos. Ltd., posted an 80 per cent drop in fourth-quarter profit. Its shares were at $70.60, down 10 cents.
The Dow Jones industrial average rose 23.28 points, or 0.22 per cent, to 10,406.66, while the Nasdaq composite index slipped 3.15 points, or 0.14 per cent, to 2,238.88.
According to Standard & Poor's Case-Shiller home price index Tuesday, U.S. home prices rose by a better-than-expected 0.3 per cent in December — ahead of expectations for a gain of 0.1 per cent and the seventh monthly rise. On a year-ago basis, home prices declined 3.1 per cent, following the 5.3 per cent drop recorded in November, and the slowest pace of depreciation since May 2007.
Millan Mulraine, economics strategist at TD Securities wrote in a note the positive results indicate "we may only be a few months away before we see a monthly gain in national home prices."
Meanwhile, a round of positive earnings out of the U.S. retail sector Tuesday has seen Home Depot Inc., Macys Inc., Sears Holdings Corp. and Target Corp. top estimates.
Overseas, the German Ifo business climate survey unexpectedly fell in February to 95.2 from 95.8 in January — the first decline in 10 months. French consumer spending fell a much worse-than-expected 2.7 per cent in January, while the consumer price index fell 0.2 per cent in January leaving the annual inflation rate at 1.2 per cent — the highest in more than a year.
London's FTSE fell 10.42 points, or 0.19 per cent, to 5,341.65 at midday. Frankfurt, Germany's DAX lost 46.29 points, or 0.81 per cent, to 5,642.15, and the Paris CAC was down 15.06 points, or 0.4 per cent, to 3,741.64.
Japan's Nikkei closed down 48.37 points, or 0.47 per cent, to 10,352.1, while Hong Kong's Hang Seng index gained 245.73 points, or 1.21 per cent, to 20,623.
On Monday, the TSX fell 74.54 points, or 0.64 per cent, to 11,634.75. The Dow was down 18.97 points, or 0.18 per cent, to 10,383.38, and the Nasdaq fell 1.84 points, or 0.08 per cent, to 2,242.03.
