Stock markets in Toronto continued Friday to scale back large gains added mid-week amid news that Canadian inflation slowed last month.
The S&P/TSX composite index fell 48.12 points to greet noon at 12,878.66
The Canadian dollar eased 0.21 cents to 97.21 cents U.S.
On the Toronto Stock Exchange, most sectors were lower, gold leading the charge. Shares in Agnico Eagle Mines dipped more than 5%, or $1.50, to $27.94.
The metals and mining sector was down, as December copper dipped three cents to $3.32 U.S. per pound. The energy sector increased as Suncor gained a nickel to $37.16
The leading shares on the TSX were from plane and train maker Bombardier Inc., which surged ahead 2%, or 10 cents, to $4.90. Potash Corp. stocks were up 1.3%, or 43 cents, to $33.35.
Economically speaking, Statistics Canada reported that the consumer price index rose 1.1% in the 12 months to August, following a 1.3% increase in July. On a seasonally-adjusted monthly basis, the CPI rose 0.1% in August, matching the increase in July.
ON BAYSTREET
The TSX Venture Exchange dipped 0.22 points to 952.66
All but four of the 14 Toronto subgroups were lower midday Friday, weighed mostly by gold, down 3.1%, materials, off 2.1%, and metals and mining, tumbling 1.3%.
The four gainers were led by telecoms, up 0.3%, financials, ahead 0.2%, and energy, inching up 0.1%.
ON WALLSTREET
Between the knowledge of U.S. Federal Reserve’s tapering on its bond buying program – just not when – and jitters about whether the government will shut down next month, investors had a lot of uncertainty to chew on Friday.
The Dow Jones Industrials demurred 70.08 points Friday to 15,566.50
The S&P 500 index faded 6.85 points to 1,715.49. The NASDAQ dropped 2.91 points to 3,786.48.
With few earnings or economic reports on the calendar, it figures to remain a quiet day.
The lines may have been long for Apple's newest iPhones, but investors aren't racing to buy up Apple's stock. It's down more than 33% over the past year, and as sales for the latest iteration of the iPhone kicked off in stores in the U.S., China and seven other countries Friday, Apple's stock moved up just slightly. Investors are hoping the phones are a hit.
Darden Restaurants, which operates the Olive Garden and Red Lobster chains, reported weaker-than-expected sales and profits. Darden also said it's planning workforce reductions. The stock slipped more than 5%.
A slew of companies hit all-time highs, including Netflix, Tesla, Amazon, and Facebook.
Priceline's stock continued to rise as well. It appeared set to finish above $1,000 U.S. a share for the second straight day.
It was a great day for companies with incendiary themed names to debut.
Shares of ad buying platform Rocket Fuel nearly doubled on their first day of trading while cybersecurity firm FireEye's shares more than doubled.
Prices for the 10-year U.S. Treasury gained, lowering yields back to Thursday’s 2.74%. Treasury prices and yields move in opposite directions.
Oil prices sank $1.05 to $105.34 U.S. a barrel.
Gold prices settled $32 at $1,337.30 U.S. an ounce.
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