Markets in Toronto lost their grip on gains Friday as data showed economic growth and stability in Canada and the United States.
After spending much of the day in positive territory, the S&P/TSX composite index was down 5.15 points to end the day, week and month at 14,209.59
The Canadian dollar added 0.45 cents to 90.35 cents U.S.
The Toronto market is up about 4.8% so far this year, rebounding strongly from a selloff in January that was triggered by concerns about emerging market growth.
Financials, such as Royal Bank of Canada descended 44 cents to $71.95, and Toronto Dominion Bank gained 40 cents, or 0.8%, to $50.16.
Shares of energy producers rose, shrugging off declines in the price of oil.
Suncor Energy Inc was down 25 cents, or 0.7%, at $36.53, and Canadian Natural Resources Ltd. advanced 14 cents to $40.52.
In corporate news, toymaker Mattel Inc said it agreed to buy Mega Brands Inc for about $460 million, including debt. Shares of Mega Brands jumped $4.65, or 35.6%, to $17.72.
Gold stocks sank as Barrick Gold dipped 47 cents to $22.56, and Goldcorp fell 37 cents to $29.77.
Health-care stocks were the worse for wear at day’s end, as Valeant Pharmaceuticals shed 2.9% to $160.26, and Catamaran Corp. dropped 2.5% to $49.97.
Also in the red were tech companies like BlackBerry, off 61 cents, or 5.2%, to $11.07.
Global base metal stocks suffered, as Teck Resources dipped 25 cents, or 1%, to $24.66 and Thompson Creek Metals fell 10 cents, or 3.3%, to $2.93.
Internationally, armed men took control of two airports in the Crimea region on Friday in what Ukraine's government described as an invasion and occupation by Russian forces, raising tension between Moscow and the West.
On the economic slate, Statistics Canada told this morning that real gross domestic product (GDP) expanded 0.7% in the fourth quarter, the same increase as in the third quarter. On a monthly basis, real GDP fell 0.5% in December.
ON BAYSTREET
The TSX Venture Exchange gained 6.70 points to 1,026.13.
Eight of the 14 Toronto subgroups were lower on the day, as health-care issues faded 1.9%, while information technology and global base metals each gave back 1.1%.
The half-dozen gainers were led by energy, up 0.9%, consumer discretionary stocks, ahead 0.8%, and metals and mining group, up 0.7%.
ON WALLSTREET
The S&P 500 pushed further into record territory Friday, setting a new closing high of just under 1,860. The index was even higher earlier in the day, but concerns about a potential military conflict between Russia and Ukraine pressured the market in the afternoon.
The Dow Jones Industrial Average climbed 49.06 points – off its highs of the day -- to end the day and week at 16,321.71
The S&P 500 index took on 5.16 points to 1,859.45. The NASDAQ subtracted 10.81 points to 4,308.12
All three indexes posted gains for the week, capping a strong month for stocks. The S&P 500 added more than 4% in February.
Tesla shares pulled back, cutting this week's gain to about 17%. The electric car company announced plans Wednesday to raise $1.6 billion U.S. for the construction of a giant battery factory, a crucial step towards building a mass market vehicle.
Activist investor Carl Icahn penned yet another angry letter to eBay shareholders, reiterating his push to separate the company's online auction business from its payment service PayPal.
eBay's board has already rejected the proposal and dismissed Icahn's allegations of conflicts of between board members and shareholders. Despite the drama, eBay shares rose to an all-time high.
Shares of 3D Systems gained after the maker of 3D printers reported strong quarterly results and issued an upbeat outlook. But shares of other companies in the 3D printing industry, including Stratasys, Exone and voxeljet, were mixed.
3D printing stocks have lost momentum since 3D Systems cautioned that its strong growth may slow this year. But the company's latest results seemed to reassure investors.
Citigroup reduced its previously reported fourth quarter results by $235 million U.S. to account for fraudulent activity in its Mexican subsidiary.
Shares of United Airlines slid after the airline said it had to cancel 22,000 flights during the first two months of the year because of the weather, prompting a profit warning.
Deckers Outdoor, maker of the Australian sheepskin UGG boot, reported quarterly results that beat analysts' expectations. But the stock plunged 13% on a disappointing outlook for earnings this year.
Economists say reports on hiring, manufacturing and retail sales in December and January have been skewed by severe winter storms. But the economy was already losing momentum in the final three months of 2013, according to government data released Friday.
An index of manufacturing in the Chicago area came in better than expected, according to the Institute for Supply Management. And the University of Michigan's final reading on consumer sentiment in February also narrowly beat expectations.
Prices for 10-year U.S. Treasuries tailed off, raising yields to 2.66% from Thursday’s 2.64%. Treasury prices and yields move in opposite directions.
Oil prices nicked ahead five cents to $102.45 U.S. a barrel.
Gold prices dropped $4.50 to $1,327.30 U.S. an ounce.
