TMX Broadcast Centre manager Kris Backus walks in front of the centre's display board in Toronto.
The markets had enjoyed an early lift as investors reacted positively to better-than-expected jobless claims data and manufacturing data out of the U.S., as well as news that Spain had managed to sell almost twice as much debt as targeted.
But comments from the managing director of the International Monetary Fund, Christine Lagarde, that the European crisis is "escalating" may have unsettled some investors.
In Toronto, the S&P/TSX dipped 34.90 points to 11508.15, with advancing stocks matching the number of declining issues.
Canaccord Financial shares fell 14 per cent after the firm said it had agreed to acquire the British brokerage firm Collins Stewart Hawkpoint for $393-million (U.S.). Finning International declined about 4 per cent after providing a financial forecast that disappointed some analysts. Research in Motion shares remained flat as investors waited the announcement of third-quarter results after the market close.
In New York, the Dow Jones Industrial Average edged forward 51.50 points to 11874.98. The broader S&P 500 advanced 5.08 points to 1216.90. All sectors of the S&P were in positive territory. Shares of FedEx Corp. were up 6 per cent after the company reported higher-than-expected profit and said it is buying 27 new Boeing aircraft to update its fleet for fuel efficiency and cost savings.
Gold continued its decline after yesterday's selloff, losing $9 an ounce to trade at $1,577.90.
The loonie regained Wednesday's loss, up a little more than half a cent at 96.77 cents. Oil dipped 56 cents to $94.39 a barrel.