Stocks in Canada’s biggest market stalled to start April, as crude wiped out gains for the year and gold declined on Friday after data showed the U.S. economy added more jobs than forecast.
The S&P/TSX Composite Index faltered 53.92 points to conclude the week at 13,440.44, after spending much of the morning more than 100 points in the red.
The Canadian dollar sank 0.05 cents to 76.84cents U.S.
BlackBerry Ltd. slumped 80 cents, or 7.6%, the most since January, to $9.74, after the smartphone maker posted sales that fell short of analysts’ estimates on lacklustre demand for its new handset. The company is shifting to software and services and away from devices as it struggles to compete with smartphones from Apple Inc. and Google Inc.
Baytex Energy led energy stocks lower, dropping nine cents, or 1.8%, to $5.04.
Health-care issues moved higher, primarily Valeant Pharmaceuticals, which skyrocketed $2.50, or 7.3%, to $36.55.
Among base metals, Teck Resources spiked 25 cents, or 2.5%, to $10.10.
Barrick Gold led gold plays up 14 cents to $17.78.
RBC manufacturing PMI data rose to 51.5 in March, from 49.4 in February, its highest level since the end of 2014.
ON BAYSTREET
The TSX Venture Exchange recovering 0.33 points to 581.48
Seven of the 13 TSX subgroups were positive by the close, as health-care shone brighter 1.9%, metals and mining up 0.8%, and gold up 0.6%.
The half-dozen laggards were weighed most by energy, down 2.5%, while information technology and consumer staples were each down 0.5%.
ON WALLSTREET
Equities in the States traded higher Friday, mostly shaking off pressure from low oil prices, after encouraging reports on domestic employment and manufacturing.
The Dow Jones Industrials jumped 107.66 points to 17,792.75, with Goldman Sachs and Home Depot jumping the highest. Chevron continued to be the greatest weight on the index, which fell as much as 117 points in morning trade.
The S&P 500 revived 13.26 points to 2,073, as gains in health-care and consumer staples lifted the benchmark index.
The NASDAQ index leaped 44.7 points to 4,914.54. Regeneron soared more than 14% to lead advancers.
Regeneron and Sanofi said Friday their experimental treatment for eczema proved highly effective in two large studies, without serious side effects often seen with standard treatments for the chronic inflammatory skin disease.
General Motors, Fiat Chrysler Automobiles and other major car makers reported weaker-than-expected U.S. sales for March, hurt by declining demand for sedans and light dealer traffic during the Easter weekend
The U.S. economy produced 215,000 jobs in March, with the unemployment rate edging up to 5% and average hourly earnings rising seven cents. The labour force participation rate rose to 63%, its highest level since March 2014.
In other economic news, February construction spending declined 0.5%. The final University of Michigan consumer sentiment read for March was 91.0. Earlier, the March U.S. Markit manufacturing PMI came in at 51.5.
ISM manufacturing came in at 51.8 in March, topping expectations and up from February's 49.5 print.
Prices for the 10-year Treasury were lower, lifting yields back to Thursday’s 1.78%. Treasury prices and yields move in opposite directions.
Oil prices retreated $1.56 a barrel to $36.78 U.S.
Gold prices shed $9.16 to $1,223.59 U.S. an ounce.
Related Stories
