Equities in Canada’s largest centre concluded a short week on a downward note, as weakness in metal and health-care stocks over gains in the energy sector
The S&P/TSX Composite faded 63.19 points to conclude the day at 16,341.34. Even so, the index finished up more than 69 points, or 0.4%, on the week.
The Canadian dollar added 0.17 cents to 75.75 cents U.S.
Markets were closed Monday for Civic Holiday
Materials provided the biggest on the index, as CCL Industries was pounded $5.85, or 8.9%, to $60.10, while Ivanhoe Mines dropped 27 cents, or 6.8%, to $3.73.
Health-care stocks also suffered, as Aphria went down 36 cents, or 4.1%, to $8.52, while Cronos Group moved lower 70 cents, or 3.8%, to $17.70.
In the consumer discretionary sector, Linamar sustained the deepest wounds, $3.41, or 8.3%, to $37.85, while Restaurant Brands International slid $2.68, or 2.7%, to $98.59
Energy stocks tried to power the market Friday, as Shawcor galloped $1.66, or 9.9%, to $18.38, while Seven Generations Energy jumped 37 cents, or 5.5%, to $7.14.
Among techs, Photon Control proved the front-runner, tacking on four cents, or 4.5%, to 93 cents, while Quarterhill improved seven cents, or 4.1%, to $1.78.
In utilities, Transalta made the most noise, amassing 48 cents, or 6%, to $8.50, while Boralex strode forward 14 cents to $20.36.
On the economic front, Statistics Canada said the economy lost 24,200 jobs last month and its unemployment rate moved up 0.2 percentage points to 5.7%.
The agency also said the value of building permits issued by Canadian municipalities declined 3.7% to $8.0 billion in June, largely due to a decrease in the value of multi-family and institutional permits.
Declines were reported in six provinces, with over one-third of the national decrease in Alberta.
Canada Mortgage and Housing Corporation said the seasonally-adjusted annual rates of housing starts in Canada dropped 9.6% from a month earlier to 222,013 units in July, beating market expectations of 203,500.
ON BAYSTREET
The TSX Venture Exchange fell 3.51 points to 592.82, for a loss on the week of just less than three points, or 0.5%
Eight of the 12 Toronto subgroups remained negative on the day, as materials sank 1.7%, health-care ailed 1.6%, and consumer discretionary stocks faded 1.2%,
The four gainers were led by energy, up 0.7%, information technology, better by 0.4%, and utilities, inching up 0.2%.
ON WALLSTREET
Stocks fell on Friday as Wall Street concluded a wild week amid trade war fears and worries over the global economy.
The Dow Jones Industrials subtracted 90.75 points to 26,287.44
The S&P 500 stepped back 19.44 points to 2,918.65
The NASDAQ faltered 80.02 points, or 1%, to 7.959.14
Stocks had a wild week, with the major indexes recording their biggest one-day selloff of the year on Monday. The indexes recovered some of those losses on Tuesday. On Wednesday, stocks resumed their selloff. By Thursday’s close, the indexes had recovered most of their losses from Monday’s drop.
Thus, the Dow ended the week on Friday down 0.75%. The S&P 500 slid 0.5%, and the NASDAQ forfeited 0.6%.
Media reports circulated early Friday that the U.S. is holding off on giving permission to U.S. companies to use Huawei products.
President Donald Trump told reporters on Friday the U.S. will not do business with Huawei, adding that the U.S. is not ready to strike a trade deal with China.
Micron Technology and Skyworks Solutions both closed more than 2.5% lower.
Prices for the benchmark 10-year U.S. Treasury fell once more, lifting yields to 1.74% from Thursday’s 1.71%. Treasury prices and yields move in opposite directions
Oil prices gained $1.88 to $54.42 U.S. a barrel.
Gold prices were unchanged at $1,509.50 U.S. an ounce.
