The TSX widened early losses by the end of Friday’s session, with resource stocks still battling with falling commodity prices
The S&P/TSX composite index plummeted 117.52 points to end the day and week at 14,653.12
The Canadian dollar fell 0.28 to 81.52 cents U.S.
Metals and mining stocks took the hardest blows, with HudBay Minerals sinking 44 cents, or 3.9%, to $10.99, and First Quantum Minerals swooning 55 cents, or 3.2%, to $16.84.
Gold stocks took it on the chin as well, with Detour Gold plummeting a dollar, or 6.3%, to $14.89, and Rubicon Minerals suffering seven cents, or 5.1%, to $1.31.
Among information technology stocks, 5N Plus hurtled earthward 15 cents, or 12.5%, to $1.05, while DragonWave dropped four cents, or 6%, to 63 cents.
TD Bank remained the most actively traded stock, losing 49 cents a share, or 0.9%, to $53.15, on 15.7 million shares.
On the economic ledger, Statistics Canada reported that retail sales, retail sales edged down 0.1% in April to $42.5 billion, following gains in February and March. Lower sales at food and beverage stores as well as electronics and appliance stores offset higher sales in most other sub-sectors.
Meanwhile, the Consumer Price Index rose 0.9% in the 12 months to May, after increasing 0.8% in April. The agency added that, a seasonally-adjusted monthly basis, inflation increased 0.4% in May, following a 0.1% decline in April.
ON BAYSTREET
The TSX Venture Exchange eked up 1.27 points to 683.89
All 14 TSX subgroups were in the red on the day, with metals and mining down 2.3%, gold sliding 2.1%, and materials 2% to the bad.
ON WALLSTREET
U.S. stocks closed lower on Friday following the NASDAQ's record high as investors eyed developments in the Greece debt negotiations amid quarterly options expirations.
The Dow Jones Industrials fell 101.56 points to 18,014.28, with Travelers Cos the greatest decliner and Home Depot, Nike and Caterpillar the only advancers.
The S&P 500 index drooped 11.77 points to 2,109.47, with utilities leading all 10 sectors lower.
The NASDAQ fell 15.95 points from Thursday’s all-time high to 5,117.
Friday marked quadruple witching in which volatility often increases in the last hour of trade due to the expiration of options and futures contracts. The major averages remained on track for weekly gains of about 1% or more.
Macerich dipped more than 7% on Friday following reports that mall operator rival Simon Property was selling a 3.6% stake, months after its failed takeover bid.
ConAgra surged more than 11% to a record after Jana Partners disclosed a 7.2% stake in the stock late Thursday and planned to nominate directors to the food-maker's board. Campbell Soup and Pinnacle Foods also traded at highs.
Euro-zone officials are expected to hold an emergency summit Monday after failing to reach an agreement on a cash-for-reforms deal for Greece at a meeting Thursday. Athens has said without further aid, it will be unable to make a 1.5-billion-euro ($1.7 billion U.S.) debt payment to the International Monetary Fund due on June 30.
Prices for 10-year U.S. Treasuries gained sharply, lowering yields to 2.26% from Thursday’s 2.33%. Treasury prices and yields move in opposite directions.
Oil prices slipped 91 cents a barrel to $59.54 U.S.
Gold prices demurred two dollars at $1,200.00 U.S. an ounce.
