Canada's main stock index tailed off a mite on Thursday as gains in material and financial stocks were offset by losses in energy shares, which tracked lower oil prices.
The S&P/TSX Composite Index fell 44.66 points to greet noon at 15,583.27
The Canadian dollar dipped 0.02 cents to 77.64 cents U.S.
The energy group, which was the biggest drag on the TSX, was down. Weighing on the energy sector was shares of Canadian Natural Resources Ltd, which fell 1.5% after Canada's largest independent petroleum producer reported quarterly results.
Shares of Manulife Financial Corp gained 3.2% after Canada's largest insurer reported an 18.3% jump in first-quarter earnings on Wednesday, boosting the heavyweight financial sector.
On the earnings front, Crescent Point Energy Corp fell 4.8% after the oil and gas producer reported a first-quarter loss as it sold Canadian crude at a bigger discount.
SNC-Lavalin Group Inc reported a 13% fall in quarterly profit, hurt by higher costs, sending shares of the construction and engineering firm down 3.9%.
Telecommunications company BCE Inc's first-quarter profit narrowly missed analysts' estimates.
The largest percentage gainer on the TSX was Parkland Fuel Corp, which rose 4.5% after the company reported first-quarter results.
Norbord Inc, the largest decliner on the index, was down 6.5% after posting quarterly results.
Among the most active Canadian stocks by volume was Bombardier Inc, which reported a rise in its favoured measure of profit and agreed to sell its Toronto aircraft assembly site to a pension fund, sending shares of the plane and train maker up 1%.
On the economic front, Statistics Canada said our country’s imports rose 6.0% to a record $51.7 billion in March. Exports also increased, up 3.7% to $47.6 billion.
As a result, said the agency, Canada's merchandise trade deficit with the world widened from $2.9 billion in February to a record $4.1 billion in March.
ON BAYSTREET
The TSX Venture Exchange fell 3.84 points to 768.27
The 12 TSX subgroups were evenly split between gainers and losers, with gold leading the former group, up 0.8%, utilities, gaining 0.6%, consumer staples, picking up 0.5%.
The half-dozen laggards were weighed most by energy, off 1.3%, telecoms, down 0.8%, and financials, sliding 0.4%.
ON WALLSTREET
Stocks traded sharply lower on Thursday as investors looked past solid quarterly results while trade and geopolitical worries mounted.
The Dow Jones Industrial Average plummeted 260.85 points, or 1.1%, to 23,664.14, with Caterpillar as the worst-performing stock. The 30-stock index also dropped below its 200-day moving average for the first time since April 2.
The S&P 500 lost 28.24 points, or 1.1%, to 2,607.43, pushing below its 200-day moving average, with health-care and financials lagging.
The NASDAQ retreated 74.54 points, or 1.1%, to 7,026.17
Tesla reported better-than-forecast quarterly results Wednesday after the close. However, the stock fell 8% after CEO Elon Musk dismissed questions from analysts regarding gross margins and Model 3 production.
Meanwhile, Church & Dwight, Blue Apron and Express Scripts also posted results that beat the Street.
U.S. Treasury Secretary Steven Mnuchin is leading a group of Trump administration officials to meet with Chinese Vice Premier Liu He and discuss trade between the two nations.
Shortly before the talks were set to take place in Beijing, the mood between the world's two largest economies worsened amid reports the U.S. administration is considering taking executive action to restrict some Chinese firms' ability to sell telecoms equipment.
Prices for the benchmark 10-year Treasury note strengthened, lowering yields to 2.94% from Wednesday’s 2.98%. Treasury prices and yields move in opposite directions.
Oil prices slipped three cents a barrel to $67.90 U.S.
Gold prices regained $8.50 to $1,314.10 U.S. an ounce.
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