Stocks in Canada’s largest centre retreated on Friday, weighed down by cooling energy and financial stocks, with investors taking some profits after making gains in four of the previous five sessions.
The S&P/TSX composite index fell 20.63 points to greet Friday’s noon at 15,182.98
The Canadian dollar slumped 0.56 cents to 81.40 cents U.S.
Enbridge Inc was the most influential loser on the index, falling 0.9% to $62.08. Bank of Nova Scotia followed with a 0.6% loss to $64.60.
Countering some of the losses were gains among tech companies and health-care.
BlackBerry gained 25 cents, or 2.2%, to $12.79.
Valeant Pharmaceutical International shares rose 2.3% to $291.65.
On the economic beat, Statistics Canada said retail trade rose for the second consecutive month in March, advancing 0.7% to $42.5 billion.
The agency adds, despite these increases, retail sales remained below their historical peak recorded in last November. Sales in March were up in seven of 11 sub-sectors, representing 71% of retail trade.
Elsewhere on the economic front, the Consumer Price Index rose 0.8% in the 12 months to April, after increasing 1.2% in March. On a seasonally adjusted monthly basis, retail inflation decreased 0.1% in April, following a 0.3% rise in March.
ON BAYSTREET
The TSX Venture Exchange gained 0.86 points to 701.37
Eight of the 14 Toronto subgroups were down by noon, as consumer staples shrank 0.7%, while energy dropped 0.6%, and utilities clicked 0.3%.
The half-dozen gainers were led by health-care, up 0.7%, information technology, up 0.5%, and telecoms moved up 0.3%
ON WALLSTREET
U.S. stocks traded mostly lower on Friday as investors digested a strong core inflation figure ahead of Fed Chair Janet Yellen's afternoon speech.
The Dow Jones Industrials swooned 48.68 points midday Friday to 18,237.06, with Boeing leading laggards and American Express and Apple the greatest advancers.
The S&P 500 index slid 3.47 points to 2,127.35, with telecommunications leading seven sectors lower and information technology the greatest advancer.
The NASDAQ slumped 3.73 points to 5,087.06
Trading volumes are expected to be lighter than usual ahead of the three-day Memorial Day weekend, but investors will focus on Yellen's 1 p.m. ET speech on the economy to the Greater Providence Chamber of Commerce.
Earnings out on Friday included Campbell Soup, Deere, and Foot Locker before market open.
Hewlett-Packard reported adjusted quarterly profit if 87 cents U.S. per share, two cents above estimates, though revenue was slightly shy of forecasts. The company also issued weaker-than-expected current quarter guidance. Investors are taking note of a positive development—lower-than-expected expenses for the separation of its personal computer and printer businesses into a separate company.
Deere & Co. earned $2.03 U.S. per share for its latest quarter, beating estimates of $1.55 U.S. despite a slight revenue shortfall. Deere noted a weak global agricultural sector, but said good execution aided its bottom line.
Foot Locker beat estimates by six cents with earnings of $1.29 U.S. per share. Revenue and same-store sales were above analyst forecasts, and the company said the quarter was the most profitable in its history.
Campbell Soup earned an adjusted 62 cents U.S. per share for its latest quarter, 10 cents above estimates, though revenue fell short due to currency effects. Campbell said its full-year sales would fall towards the lower end of its projected range, but earnings would be at the more favorable end.
The U.S. Labor Department said on Friday its Consumer Price Index (CPI) rose 0.1% last month, with the core figure discounting food and energy costs up 0.3%, for the largest gain since January 2013.
Economists polled by Reuters had forecast the CPI edging up 0.1% from March and dipping 0.1% from a year ago.
Prices for 10-year U.S. Treasuries lost ground, lifting yields slightly to 2.21% from Thursday’s 2.20%. Treasury prices and yields move in opposite directions.
Oil prices fell 83 cents a barrel to $59.89 U.S.
Gold prices recovered 90 cents to $1,205.00 U.S. an ounce.
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