The Toronto stock market was slightly lower by noon, as disappointing industrial production data added to China growth concerns that have pressured markets all week.
The S&P/TSX composite index let go of 27.25 points to greet noon at 14,291.75.
The Canadian dollar hiked 0.51 cents at 90.43 cents U.S.
Copper prices have slid more than 8% over the past four sessions while the TSX base metals segment has by far been the worst performer this week, down 8.5%.
The May contract for the metal was unchanged at $2.96 U.S. a pound Thursday. Teck Resources dropped 22 cents to $23.03.
Demand questions have also hit oil prices hard this week with the April contract in New York down almost 5%. In the energy sector, Suncor faded 21 cents to $36.49.
Bullion prices also shifted lower but the gold sector made headway on the TSX, with stocks such as Goldcorp moving higher 54 cents to $31.49.
Meanwhile, media giant Quebecor Inc. had quarterly net income of $62.5 million, up from $6.2 million a year earlier. Adjusted earnings from continuing operations came in at $68 million, or 55 cents per share, while revenues remained relatively flat at $1.12 billion.
Analysts had called for 53 cents of adjusted earnings on $1.15 billion in revenues and its shares dipped three cents to $24.91.
Shares in Empire Company Ltd. fell $2.19 to $68.03 as the parent of supermarket chain Sobeys Inc. reported that quarterly net earnings slumped to $400,000 or nil per diluted share compared with $74.1 million or $1.09 per share in the year-earlier period. Ex-items, earnings were 84 cents per share, below analysts' estimate of $1.23 per share.
On the economic slate, Statistics Canada reported that its new housing price Index rose 0.3% in January, following a 0.1% gain in December. The national increase was the largest since May 2012 and mainly the result of strong gains in the Prairie region.
ON BAYSTREET
The TSX Venture Exchange dipped 8.86 points to 1,037.53
All but three of the 14 Toronto subgroups were lower by noon, as consumer staples wilted 0.9%, consumer discretionary and global base metals each falling 0.7%.
The three gainers were led by gold, up 2%, while materials prospered 1%, and energy stocks inched up 0.2%.
ON WALLSTREET
Stocks were lower Thursday despite better than expected economic news.
The Dow Jones Industrial Average lurched back 109.44 points to 16,230.64
The S&P 500 index lost 10.98 points to 1,857.22. The NASDAQ jettisoned 35.54 points to 4,287.79.
On the corporate side, fuel cell maker Plug Power was sharply higher after releasing fourth quarter results. Although the company reported a loss, CEO Andy Marsh said he believes that orders for this year will be nearly four times 2013's total orders.
The stock has surged since disclosing a big order from Wal-Mart last month. But the company -- as well as rivals FuelCell Energy and Ballard Power Systems -- are highly speculative companies.
There was a sweet treat for owners of Krispy Kreme Doughnuts this morning. The company reported a strong outlook for sales and earnings, and the stock was higher on the news. Dunkin' Brands was lower, but the stock is up nearly 40% in the past year.
Shares of discount retailer Dollar General were lower after reporting weaker-than-expected sales in the fourth quarter. Dollar General blamed the bad winter weather.
Amazon rose after saying that it would boost the annual cost of its Amazon Prime membership by $20 a year to $99 U.S., but that was only half of what the retailer said it would raise the price by just a month ago.
Economically speaking, the U.S. government reported that retail sales in February were up 0.3%. This was the first increase in three months as consumers bought more autos and clothing. On the jobs front, initial unemployment claims fell by 9,000 to 315,000, a three-month low.
Prices for 10-year U.S. Treasuries were higher, lowering yields to 2.68% from Wednesday’s 2.73%. Treasury prices and yields move in opposite directions.
Oil prices eked up 14 cents to $98.13 U.S. a barrel.
Gold prices fell $2.50 to $1,368 U.S. an ounce.
