Canadian stocks slipped Friday, giving back gains that arrived following better-than-expected domestic and U.S. reports on jobs, as energy issues fell on lower oil prices.
The S&P/TSX composite index closed Friday off 28.69 points to 12,418.99
The Canadian dollar gained 0.17 cents to 102.17 cents U.S.
Financial and industrial stocks advanced following the data. Shares of insurer Manulife Financial Corp. rose 10 cents to $12.29, Toronto-Dominion Bank also picked up a dime to $82.01, and Canadian Pacific Railway climbed $1.41, or 1.7%, to $86.90.
Energy stocks moved lower alongside a downturn in oil prices, which initially had climbed after the U.S. report on jobs.
In Toronto, shares of natural gas and oil producer EnCana dropped 2.7% to $21.26, Crew Energy fell 14 cents, or 1.8%, to $7.54 and Canadian Natural Resources declined 52 cents, or 1.7%, to $30.18.
Hundreds of people protested in south Kyrgyzstan Friday are demanding the release of three opposition lawmakers in a dispute over the country's largest western-owned gold mine, Centerra's Kumtor mine. Centerra shares fell back 16 cents, or 1.3%, to $12.41
Bengal Energy said an independent report showed a greater-than-600% increase 3P, or proved plus probable plus possible, reserves at the Cuisinier Field in Australia. Bengal shares surged nine cents, or 9.5%, to $1.04
Like their U.S. counterparts, more Canadians appeared to have found work in September. Figures released this morning by Statistics Canada show that the economy added 52,000 jobs, soundly beating the consensus estimate for a 10,000-jobseeker increase. The labour force rose 72,600 pushing unemployment rate up to 7.4%
What’s more, Statistics Canada says the value of building permits issued in August rose 7.9% to $7.3 billion after a 2.8% drop in July.
The agency says the August increase was due to a 25.2% rise in permits in the non-residential sector with a value of $3.2 billion, the highest level in almost four years.
ON BAYSTREET
The TSX Venture Exchange improved 4.13 points to 1,344.98
All but four of the 14 Toronto subgroups ended the day down, weighed mostly by a 1.1% drop in gold prices. Energy stocks fell 0.9% and materials lost 0.8%.
The four laggards were led by industrials, ahead 0.4%, while telecoms inched up 0.04%, and consumer staples eked up 0.03%.
ON WALLSTREET
U.S. stocks lost traction Friday afternoon, following a better-than-expected report on the nation's job market.
The Dow Jones Industrial average gained 34.79 points, off their highs of the day, to close out the day and week 13,610.20
The S&P 500 backpedaled 1.36 points to 1,460.04, while the tech-rich Nasdaq lost 13.27 points to 3,136.19
Shares of social gaming firm Zynga plunged 17%, following the company's announcement that it was lowering its 2012 guidance.
Avon Products shares rose 6% after the company's former CEO resigned her post as executive chairman.
Facebook shares shed more than 2%, a day after company declared there were one billion users of the social network.
Shares of Sprint rallied 2% following reports that the company may be seeking a competing big for MetroPCS
The U.S. Labor Department's monthly report showed employers added 114,000 jobs in September, better than the 110,000 economists had expected. And the unemployment rate dropped to 7.8%, falling below 8% for the first time since early 2009.
Investors welcomed the jobs data, particularly the decline in the unemployment rate, but remain concerned about the health of the economy.
Meanwhile, the U.S. government logged a $1.1-trillion U.S. deficit in fiscal year 2012 -- marking the fourth straight year of trillion-dollar shortfalls, according to the Congressional Budget Office
The Federal Reserve said consumer credit increased $18.1 billion U.S. in August. Economists had expected consumer borrowing to have increased $5 billion U.S., according to a survey of analysts
The price on the benchmark 10-year U.S. Treasury sagged, spiking yields to 1.73% from Thursday’s 1.66%. Treasury prices and yields move in opposite directions.
Oil prices sank $1.87 to $89.84 U.S. a barrel.
Gold prices fell $15.70 to $1,780.90 U.S. an ounce.
