Markets took a breather Friday, as investors likely took some profits amassed during strong sessions following this week’s decision from the U.S. Federal Reserve on interest rates.
The S&P/TSX Composite dropped 99.25 to close the day and the week at 14,697.93. Even so, the index enjoyed a 1.7% increase on the week.
The Canadian dollar staggered 0.75 cents at 75.93 cents U.S.
Gold stocks were punished most on the day, as Yamana Gold spilled 21 cents, or 3.4%, to $5.91, while IAMGOLD slid 19 cents, or 3.4%, to $5.45.
Energy stuttered, too, as Baytex Energy fell 23 cents, or 4.3%, to $5.09, while EnCana slipped 46 cents, or 3.7%, to $11.99.
Health-care led gainers, as Valeant Pharmaceuticals hiked $1.47, or 4.2%, to $36.54, and Concordia International screamed higher 55 cents, or 8.5%, to $7.01.
On the economic calendar, Statistics Canada reported that inflation rose 1.1% in the 12 months leading to August, following a 1.3% hike in July.
On a seasonally-adjusted monthly basis, the Consumer Price Index decreased 0.1% in August, after posting no change in July.
Elsewhere, retail sales inched down 0.1% to $44.1 billion in July, the third straight relatively unchanged month.
ON BAYSTREET
The TSX Venture Exchange fought its way into the green by the close, gaining 0.34 points Friday at 810.89, enjoying a 1.5% gain on the week.
All but three of the 12 TSX subgroups were lower on the day, as gold dimmed 2.1% in price, energy tailed off 1.6%, and materials lost 1.4%.
The three gainers were health-care, up 0.9%, consumer discretionaries, ahead 0.1%, and information technology, inching up 0.04%.
ON WALL STREET
Equities south of the border closed lower on Friday, with energy falling more than 1%, as oil prices fell sharply while investors digested key manufacturing data, following two strong sessions.
The Dow Jones Industrials docked 131.01 points to 18,261.46, with Apple leading decliners and Verizon the top advancer.
The S&P 500 faded 12.49 points to 2,164.69, with energy leading nine sectors lower and real estate the top advancer.
The NASDAQ Composite backtracked 33.78 points to 5,305.75, as shares of Apple fell 1.7% after a report from GfK supposedly raised concerns about the latest iPhone's sales. The three major indexes still posted weekly gains of around 1% but snapped a three-day winning streak.
In corporate news, Twitter's stock soared 21.4%, posting its best trading session of all time, after media reports that the firm has received expressions of interest from several technology or media companies and may receive a formal bid shortly.
Motor oil maker Valvoline saw its shares rise 5% in its initial public offering. Valvoline is a spinoff of Ashland.
On matters economic, the September read on the Markit Manufacturing Flash PMI came in at 51.4, below the August read of 52.0.
IHS Markit, the firm that released the data, said that the September number marked seven years of continuous growth in manufacturing, but that the headline index was below the average seen over this period (54.0) and remained close to the post-crisis low recorded in May (50.7).
Prices for the 10-year Treasury made back lost ground, lowering yields to Thursday’s 1.62%. Treasury prices and yields move in opposite directions.
Oil prices fell $1.58 to $44.74 U.S. a barrel
Gold prices dulled $3.10 at $1,341.60 U.S. an ounce.
