Equities in Canada’s biggest market were barely higher on Friday, as gains for bank, consumer and railway stocks offset declines for miners which fell on weaker metals prices.
The S&P/TSX Composite remained negative 7.74 points to greet noon at 14,687.94. The index is on track for a 0.3% loss on the week.
The Canadian dollar erased 0.64 cents to 77.67 cents U.S.
Gold lost ground, snapping a week-long advance after a top Federal Reserve official joined other policymakers signaling support for a U.S. interest rate hike in coming months.
The most influential weights on the stock index included Barrick Gold Corp, which fell 0.8% to $26.67.
Teck Resources declined 2.5% to $20.56. Silver Wheaton Corp fell 2.1% to $38.27 and First Majestic Silver Corp declined 3.8% to $20.05.
Waste Connections gained 0.9% to $100.72 after Fitch affirmed its rating on the company's debt.
Canadian National Railway gained 0.8% to $83.23, and rival Canadian Pacific Railway rose 0.8% to $195.64.
Consumer discretionary stocks rose, with auto parts maker Magna International adding 0.8% to $51.9 and budget chain Dollarama up 1.2% to $97.07.
On the economic scene, Statistics Canada reported that the consumer price index rose 1.3% in the 12 months to July, after increasing 1.5% in June. The agency adds, excluding gasoline, the CPI was up 1.9% year over year in July, matching the gain in June.
The agency also said retail sales edged down 0.1% to $44.1 billion in June. Sales declined in seven of 11 sub-sectors.
ON BAYSTREET
The TSX Venture Exchange slumped 2.44 points to 835.14
Nine of the 13 subgroups were lower through the morning session, as gold and materials sagged 1.1% each, and utilities suffered 0.7%.
The four gainers were led upwards by consumer discretionaries, up 0.6%, industrials, gaining 0.5%, and financials, ahead 0.4%.
ON WALLSTREET
U.S. stocks traded mostly lower on Friday as investors digested hawkish rhetoric from Federal Reserve officials and kept an eye on oil prices.
The Dow Jones Industrials fought back toward the breakeven point, but still falling 18.66 points short at 18,579.04, with Verizon the biggest loser and Nike leading advancers.
The S&P 500 fell 3.68 points to 2,183.34, with utilities and telecommunications lagging.
The Dow and the S&P were on track to post slight weekly losses amid continuing their narrow trading range.
The NASDAQ Composite moved upward 4.45 points to 5,244.60, trying to extend a seven-week winning streak.
U.S. equities were on track to post slight weekly losses amid continuing their narrow trading range.
Prices for the 10-year Treasury sagged, lifting yields to 1.59% from Thursday’s 1.54%. Treasury prices and yields move in opposite directions.
Oil prices inched up one cent a barrel to $48.23 U.S.
Gold prices slid $9.90 to $1,347.30 U.S. an ounce.
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