Equity markets in Toronto were little changed on Friday as losses in the financial and energy sectors offset gains across an otherwise positive market.
The S&P/TSX composite index regained 17.09 points to pause for lunch at 15,045.25
The Canadian dollar erased 0.17 cents to 82.27 cents U.S.
Markets in Canada will be closed Monday for Victoria Day.
Energy stocks were hit by slumping crude prices, which fell on reports that an increasing oversupply of oil was boosting global inventories.
Encana Corp was among the most influential decliners. Shares fell 2.7% to $16.06. Overall, energy stocks, which make up a hefty 20% of the index, retreated.
Financial shares were also hit, with half of the most important movers on the downside belonging to that group.
Toronto Dominion Bank fell 0.6% to $55.15, and Manulife Financial lost 1% to $22.51.
The materials group, home to mining companies, gained, with Potash Corp up 1.7% at $39.37. Industrials were stronger, with Canadian National Railway rising 1.4% to $74.57.
On the economic scene, Statistics Canada reported our international transactions in securities were up significantly in March to $22.5 billion. Foreign acquisitions of Canadian private corporate securities accounted for the bulk of this activity. At the same time, Canadian investors reduced their holdings of foreign securities by $3.2 billion, all debt instruments.
Moreover, manufacturing sales manufacturing sales rose 2.9% to $51.0 billion in March, the second increase in six months.
Experts predicted Canadian factory sales would rise 1.2% in March after unexpectedly falling 1.7% in February.
Finally, the Canadian Real Estate Association reported national home sales activity rose 2.3% from March to April.
ON BAYSTREET
The TSX Venture Exchange remained positive 0.10 points to 692.10
Nine of the 14 Toronto subgroups were positive midday, with gold up 0.8%, industrials and materials improving 0.7%
The five laggards were weighed most by financials, down 0.4%, while global base metals and their cousins among metals and mining each capsized 0.3%
ON WALLSTREET
U.S. stocks traded in a narrow range on Friday, following a record close on the S&P 500, as investors eyed lower bond yields and the dollar, amid data releases.
The Dow Jones Industrials eased 20.14 points to 18,232.16, with Cisco leading gains and Caterpillar and United Technologies the greatest laggards.
The S&P 500 index dipped 3.04 points from Thursday’s record close to 2,118.06, with utilities leading five sectors higher and financials the greatest decliner.
The NASDAQ fell 9.86 points to 5,040.94
Netflix jumped more than 4.5% to above $600 U.S. a share for the first time after Chinese media executives at BesTV New Media and Wasu Media Holding told the Wall Street Journal they have held early talks with Netflix. No decisions were made.
CLSA reduced its fiscal year 2016 estimates and price target on Keurig Green Mountain to $103 from $108 after the coffee-machine maker's Kold system demonstration gave higher-than-anticipated suggested pricing. CLSA maintains an "underperform" rating on the stock and projects lower household penetration.
Google said in a blog post that it would send self-driving cars to public roads this summer.
Goldman Sachs upgraded UPS to "buy" from "neutral" and raised its price target to $119 U.S, citing a positive skew in the risk/reward proposition and stronger-than-expected pricing in ground delivery services. Goldman also raised its view on logistics firms to "attractive" from "neutral."
Industrial production fell 0.3% in April, the fifth straight month of declines as reduced mining and utilities output weighed, Reuters said. Expectations were for a gain of 0.1%.
The University of Michigan's consumer sentiment report came in at 88.6, the lowest in seven months.
Prices for 10-year U.S. Treasuries gained sharply, lowering yields to 2.14% from Thursday’s 2.24%. Treasury prices and yields move in opposite directions.
Oil prices faded 49 cents a barrel to $58.46 U.S.
Gold prices slid $2.30 to $1,222.90 U.S.
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