Stocks fell sharply Thursday, as gains in the health-care were more than offset by losses in consumer staples and energy issues.
The S&P/TSX Composite Index retreated 82.66 points to end Thursday at 15,550.55
The Canadian dollar fell 0.1 cents to 73.02 cents U.S.
Restaurant Brands International – the parent company of Wendys and Tim Hortons – tumbled 65 cents to $81.17, while grocer Loblaw Companies slipped 87 cents, or 1.2%, to $77.08.
In the energy field, Suncor lost 43 cents, or 1%, to $43.20.
Enbridge slid $1.81, or 3.2% to $54.73 after it reported a lower-than-expected quarterly profit.
Shares in Air Canada, the country's dominant carrier, jumped $1.57, or 10.5% to $16.46, after announcing it would start its own frequent-flyer program to replace Aeroplan, operated by Aimia.
Aimia stock sank $5.60, or 62.7%, to $3.33 on the news.
Real-estate concerns dropped, too, as units of RioCan Real Estate Investment Trust fell 14 cents to $25.58, while Artis REIT sank 29 cents, or 2.2%, to $13.06.
Health-care stocks, however, had a wonderful day, as Canopy Growth Corporation hiked 75 cents, or 9.6%, to $8.53, while Valeant Pharmaceuticals triumphed $1.52, or 8.8%, to $18.85.
In the gold sector, Barrick Gold climbed 50 cents, or 2.2%, to $22.87, while IAMGOLD took on 20 cents, or 3.6%, to $5.75.
Among materials issues, Agnico Eagle Mines gained $1.30, or 2%, to $65.15.
On the economic scene, Statistics Canada reported that its new housing price index rose 0.2% in March compared with the previous month. Higher new house prices in Vancouver and Toronto led the gain.
ON BAYSTREET
The TSX Venture Exchange acquired 5.14 points to 788.38
All but three of the 12 TSX subgroups were lower on the day, with consumer staples toppling 1%, while real-estate and energy fell 0.9% each.
The three gainers were health-care, up 3.1%, gold, boosting 3%, and materials, up 1.3%.
ON WALLSTREET
U.S. equities traded mostly lower on Thursday as retail stocks fell sharply on the back of Macy's weak quarterly results.
The Dow Jones Industrials Average traded lower by 23.69 points to 20.919.42, with Home Depot contributing the most losses. Helping the index cut losses were shares of Caterpillar, which rose 0.8% after Bank of America upgraded the stock to buy from neutral.
The S&P 500 inched faded 5.19 points to 2,394.44, with Macy's and Nordstrom dragging the index lower.
The NASDAQ gave back 13.18 points to 6,115.96
Macy’s posted adjusted earnings of 24 cents per share and revenue of $5.34 billion. Analysts expected the firm to report earnings per share of 35 cents on sales of $5.47 billion.
The retailer's stock has been under pressure all year. Entering Thursday's session, it was down 18.1%
Investors kept an eye on retailers Thursday as they braced for the release of April retail sales. Economists expect an increase of 0.6%
Social media company Snap also reported quarterly results, marking the first time doing so since going public. Snapchat's parent company reported sales of $150 million, with media outlets estimating a loss of 20 cents a share. The disappointing results sent the stock reeling more than 20%
In economic news from Thursday, the producer price index rose 0.5% in April, more than the expected increase of 0.2%. Initial jobless claims, meanwhile, totaled 236,000, below the expected 245,000.
Prices for the benchmark 10-year Treasury note enjoyed slight gains, lowering yields to 2.39% from Wednesday’s 2.41%. Treasury prices and yields move in opposite directions.
Oil prices jumped 43 cents at $47.76 U.S. a barrel
Gold prices picked up $6.30 at $1,225.20 U.S. an ounce.
