Canadian shares finished the trading day lower on Tuesday, with the S&P/TSX Composite retreating 1.61% at the close in Toronto. Sector weakness in Materials, Clean Technology and Healthcare was cited as the main driver of the decline.
Among individual movers, Methanex Corporation (TSX:MX) was the session's top performer, climbing 5.58% - a gain of 4.22 points - to finish at 79.79. Superior Plus Corp (TSX:SPB) added 3.22%, rising 0.23 points to close at 7.37, while Athabasca Oil Corp (TSX:ATH) gained 3.06% or 0.33 points to end the day at 11.13.
At the other end of the tape, several miners and explorers recorded sizable losses. NovaGold Resources Inc (TSX:NG) tumbled 13.27%, a decline of 1.95 points, to settle at 12.74. G Mining Ventures Corp (TSX:GMIN) fell 11.45%, shedding 6.41 points to finish at 49.59. Orla Mining Ltd (TSX:OLA) declined 10.56%, down 2.33 points to 19.73 at the close.
Market breadth on the Toronto Stock Exchange was tilted toward losers: 611 stocks fell compared with 374 advancers, while 63 issues finished unchanged.
Volatility, as measured by the S&P/TSX 60 VIX, increased 3.77% to 17.60, reflecting a rise in implied volatility for S&P/TSX Composite options.
Commodity markets were mixed heading into June contracts. Gold Futures for June delivery dropped 2.16% - a move of 104.21 - to $4,724.59 a troy ounce. In energy markets, crude oil for June delivery rose 2.96% or 2.59 to hit $90.01 a barrel, while the June Brent contract climbed 3.55%, up 3.39, to trade at $98.87 a barrel.
Currency and dollar indicators showed modest moves. CAD/USD was unchanged, at 0.73, a 0.08% change, while CAD/EUR was unchanged, at 0.62, a 0.25% move. The US Dollar Index Futures was up 0.26% at 98.16.
Market takeaway - The Toronto market closed lower with pronounced weakness in Materials, Clean Technology and Healthcare, offset in part by gains in select energy and industrial names. Rising option-implied volatility and a breadth skew toward decliners underscored caution among investors.