Canada's main stock index dipped on Thursday after lower oil prices dragged down shares of energy companies.
The S&P/TSX Composite Index receded 64.14 points to greet noon at 16,356.81
The Canadian dollar squeaked ahead 0.02 cents to 75.15 cents U.S.
Top drags on the sector were Enbridge --- subsiding 51 cents, or 1.2%, to $41.77 -- and Canadian Natural Resources, also down 51 cents, or 1.2%, to $42.13
Great Canadian Gaming Corp – one of the top early gainers – lost some steam and fell 18 cents to $47.82, while Altus Group, rose 25 cents to $30.24.
The top decliner on the TSX was Boralex, which fell 41 cents, or 2%, to $20.53, followed by Parex Resources, down 91 cents, or 3.6%, to $24.27.
Marijuana sales will become legal in Canada beginning Oct. 17, Prime Minister Justin Trudeau said on Wednesday, making it the first major economy to legalize its recreational use.
Cannabis companies like Canopy Growth perked $1.61, or 3.6%, to $46.97, while Aurora Cannabis sprang up 41 cents, or 4.1%, to $10.40.
British Columbia said it is preparing legislation to crack down on "hidden ownership" in real estate and pledged Canada's first public registry of property owners, amid concerns that offshore money and criminal investors are helping fuel a housing crisis in the Pacific Coast province.
On the economic slate, Statistics Canada reported Thursday that those drawing regular employment insurance benefits numbered 453,100 people, down 15,900 or 3.4% from March, continuing the downward trend that began in the fall of 2016. The number of EI beneficiaries in April was at its lowest level since comparable data became available in 1997.
Also that month, wholesale sales edged up 0.1% to $63.1 billion in April. Increases in the machinery, equipment and supplies and the food, beverage and tobacco sub-sectors were almost completely offset by declines in the motor vehicle and parts sub-sector.
ON BAYSTREET
The TSX Venture Exchange strengthened 1.31 points to 752.56
Eight of the 12 TSX subgroups had lost ground by noon hour, with energy tumbling 1.4%, industrials docking 0.9%, and information technology doffing 0.8%.
The four gainers were led by health-care, skyrocketing 1.9%, real-estate, nicking 0.2%, and gold, shining brighter 0.1%.
ON WALLSTREET
Stocks fell on Thursday as fears of an impending trade war between the U.S. and China dragged investor sentiment lower.
The Dow Jones Industrials plummeted 167.59 points to 24,490.21, with Boeing and Caterpillar among the worst-performing stocks in the index. The Dow was also on track to post an eight-day losing streak, its longest since March 2017.
The S&P 500 lost 11.87 points to 2,755.45, as energy shares fell more than 1%, as energy shares fell more than 1%.
The NASDAQ dropped 33.56 points to 7,747.95, erasing earlier gains, as Amazon and Netflix both fell more than 1%. Amazon shares fell 1.2% after the Supreme Court ruled that states can force online shoppers to pay sales tax.
Simmering tensions between the U.S. and China on trade have kept stock gains in check this week, with the Trump administration threatening to slap tariffs on $200 billion worth in Chinese goods. China, meanwhile, said this thread violates previous negotiations and consensus reached between both countries.
Prices for the benchmark for the 10-year U.S. Treasury gained, lowering yields to 2.91% from Wednesday’s 2.94%. Treasury prices and yields move in opposite directions.
Oil prices deleted 14 cents to $65.57 U.S. a barrel.
Gold prices faltered five dollars at $1,269.50 U.S. an ounce.
