Canadian Stocks In Limbo After Recent Gains -- Canadian Commentary

(RTTNews) - Canadian stocks were little changed for a third session Wednesday, unable to recent gains amid signs that crude oil prices may slide.

Crude oil was stuck near $49 a barrel ahead of tomorrow's pivotal OPEC meeting. Increased production from Canada's oil sands may slow the evaporation of the global supply glut.

The S&P/TSX Composite Index was down 2 points at 14,063. The index touched a 9-month peak early on Tuesday.

In corporate news, National Bank of Canada (NA.TO) second quarter profit tumbled 48 percent on exposure to bad energy loans. Shares eased 0.8 percent.

Laurentian Bank of Canada (LB.TO) added 2.6 percent. Second quarter adjusted earnings per share were C$1.46, up 6% from C$1.38 last year.

Husky Energy (HSE.TO) said it may reinstate a dividend thanks to higher oil prices. The company resumed production at its Sunrise facility. Shares were flat.

Westjet (WJA.TO) Encore Ltd has signed a firm order for nine Q400 turboprops from Bombardier (BBD.B.TO). BBD added 1.3 percent.

Baring Private Equity Asia has closed its acquisition of a 35 percent stake in Telus International (T.TO). T shares were flat.