The Toronto stock market dug deeper into the red Thursday, even as oil prices continued their recent advance and the financial sector rebounded from earlier losses to reach positive territory.
The S&P/TSX composite index dropped back 64.10 points to close at 15,388.77
The Canadian dollar garnered 0.75 cents to 82.09 cents U.S.
Gold stocks provided a drag on the market, as Sandstorm Gold stumbled 19 cents, or 4.2%, to $4.34, while Barrick Gold subsided 37 cents, or 2.3%, to $15.42.
Metals stocks also proved a downer, as HudBay Minerals got bruised 43 cents, or 4%, to $10.35, and Turquoise Hill Resources reversed 11 cents, or 2.2%, to $4.93.
One of the few bright spots was provided by telecoms, as Manitoba Telecom Services triumphed $1.18, or 4.7%, to $26.41.
Among health-care issues, Extendicare moved higher by six cents to $7.78.
Real-estate also fought their way into the green, as units in Dream Global REIT took on 17 cents, or 1.7%, to $10.19, and Cominar REIT advanced 19 cents, or 1.5%, to $19.62.
ON BAYSTREET
The TSX Venture Exchange moved slightly in the green, 0.34 points, to 705.59
Nine of the 14 Toronto subgroups were lower on the day, as gold dulled 2%, while metals and mining groups lost 1.5%, and materials faltered 1.3%.
The five gainers were led by telecoms and health-care, each eking up 0.3%, while utilities inched up 0.1%.
ON WALLSTREET
U.S. stocks traded near the flatline on Thursday, paring earlier gains from a high crude oil settlement, as investors digested domestic data and earnings reports.
The Dow Jones Industrials were off their lows of the morning, but still negative 6.84 points to 18,105.77, with UnitedHealth leading advancers and Merck proved to be the greatest laggard.
The S&P 500 index dropped 1.98 points to 2,104.65, with consumer staples leading seven sectors higher and utilities the greatest laggard.
The NASDAQ index moved down 5.95 points to 5,005.07.
Following a slew of major financial earnings before the bell, American Express is expected to post results after the close.
Citigroup posted earnings per share that beat on revenues that missed expectations.
Goldman Sachs handily beat expectations on both earnings per share and revenue, helped by a burst of trading activity in January when the Swiss central bank removed a cap on the franc. The investment bank also raised its quarterly dividend to 65 cents U.S. per share from 60 cents U.S.
BlackRock reported an 8.7% rise in first-quarter profit, boosted by strong flows into its exchange-traded funds. The asset manager saw net income rise to $822 million U.S. in the first quarter, up from $756 million U.S. a year earlier.
UnitedHealth earned $1.46 U.S. per share for its latest quarter, 11 cents U.S. above estimates, with revenue also beating Street expectations. The insurer also raised its 2015 earnings forecast, following stronger business growth during the first quarter.
Netflix surged more than 15% to a new all-time high on Thursday. The firm reported earnings after the bell on Wednesday that missed on the earnings per share but its stock gained in after-hours trade as revenues grew 24% and it added more subscribers than expected.
Three stocks began trading on Thursday: Etsy, Party City and Virtu.
The online crafts e-commerce site more than doubled in its trading debut.
The party supplies retailer jumped more than 22% after opening for trading.
Shares of the electronic trading firm rose as much as 24.6% in their debut, valuing the company at about $3.23 billion U.S.
U.S. March housing starts showed a 0.926-million-unit rate, below expectations but above February's 0.908-million-unit rate.
The usual weekly initial jobless claims came in at 294,000, above expectations and a slight increase from the prior week.
Prices for 10-year U.S. Treasuries made back lost territory, lowering yields to Wednesday’s 1.89%. Treasury prices and yields move in opposite directions.
Oil prices recovered 23 cents to $56.62 U.S.
Gold prices slid $2.10 to $1,199.20 U.S.
