Oct. 27, 2009 (Baystreet.ca) --

Canadian stocks are moderately lower on Tuesday as some disappointing earnings results have weighed on the market. With the decline, the main index extended notable losses from yesterday. By noon, the S&P/TSX composite index was down 37.75 points to 11,197.13. Mining stocks were down, as Inmet has dropped 5.1% after the company reported third quarter net income of $61.55 million or $1.10 per share, compared to $75.06 million or $1.55 per share last year. Industrials were also off, as Canadian Pacific Railway Limited has lost 2.2% after the company announced third-quarter net income of $195.4 million or $1.16, up from $170.7 million or $1.10 a year earlier. In other corporate news, QLT is down 0.5% after the company reported its third-quarter net income plummeted to $8.92 million or $0.16 per share from $146.93 million or $1.97 per share last year. Rogers Communications has added 3.3% after the company reported third quarter net income of $485 million or $0.79 per share, compared to $495 million or $0.78 per share in the prior-year quarter. Vitran Corp. is down 0.2% after the company reported third-quarter net income of $300,000 or $0.02 U.S. per share, compared to net income of $2.1 million U.S. or $0.15 U.S. per share in the year-ago quarter. Net Interest expense for the quarter increased to $2.58 million U.S., from $2.16 million U.S. in the same quarter last year. Globex Mining Enterprises has lost 6% after the company said it has acquired the Raymor "A" Gold Zone located in Dalquier township Quebec, around eight kilometres north of the town of Amos. Kinross has lost 4.75% after the company lowered its 2009 production expectations to 2.2 million gold ounces. The number of Canadian receiving regular Employment Insurance benefits in August fell 2.4% from July, the second consecutive monthly decline, official data showed Tuesday. The Canadian dollar was ahead 0.24 cents to 93.82 cents U.S. ON BAYSTREET All but two of the 14 TSX subgroups were in the red by lunch time. Metals and mining stocks were off 2.4%, while industrials suffered 1.5%, financials were down 1.2%. The two gainers were telecoms, ahead 1.5% and energy stocks, gaining 1%. The TSX Venture Exchange gave back 2.14 points to 1,303.81, while the Nasdaq Canada index lost 9.68 points to 682.57. ON WALLSTREET In New York, a rally in the energy sector propelled the Dow industrials near midsession Tuesday, but the broader market struggled as investors mulled a surprise drop in consumer confidence. A better-than-expected report on home prices was also in the mix. The Dow Jones Industrials moved up 56.91 points to 9,924.87. The S&P 500 index gained 1.77 points to 1,068.72. The Nasdaq composite index fell back 10.16 points to 2,131.69. Stocks tumbled Monday, with the Dow dropping 100 points for the second day in the row. A spiking dollar dragged on commodity shares and other stocks that benefit from the weak dollar. The dollar and commodity prices remained in focus Tuesday. But investors also looked to the economic news ahead of Thursday's highly anticipated gross domestic product growth report. European oil behemoth BP reported weaker quarterly earnings and revenue due to lower oil prices, but the results topped analysts' estimates. BP's U.S. traded shares fell 5%. Valero Energy, the largest U.S. oil refiner, reported a bigger-than-expected quarterly loss Tuesday, with fuel demand suffering amid the sluggish economy. Shares fell 3.6% Nonetheless, a variety of energy stocks rallied, including Dow components Chevron and Exxon Mobil. Raw commodity prices were higher as well, despite a mixed dollar. Typically a weak dollar boosts dollar-traded commodity prices and a strong dollar pressures prices. On the economic front, consumer sentiment took a surprise plunge in October, according to a Conference Board report released after the start of trading. The Consumer Confidence index fell to 47.7 in October from a revised 53.4 in September. Economists surveyed by Briefing.com thought it would rise to 53.5. The part of the index that measures how consumers rate the present economic situation fell to 20.7 in October from 23 in September. It was the lowest level since February 1983 when it stood at 17.5. Elsewhere, the Case-Shiller Home Price Index of 20 cities showed the fourth straight month-over-month increase on a non-seasonally adjusted basis. Home prices in the S&P index rose 1.2% in August, following a 1.6% price gain in July. Treasury prices advanced, lowering the yields for the benchmark 10-year note to 3.49% from Monday's 3.56%. Prices and yields move in opposite directions. The price of a barrel of oil regained 71 cents to $79.39 U.S. Gold prices were down four dollars at $1,039 U.S. an ounce.