Markets in Toronto fell Friday in a broad retreat led by banks and energy issues on a fall in crude oil prices and weaker-than-expected domestic retail sales.
The S&P/TSX Composite Index tumbled 135.46 points, or 1.1%, to greet noon at 12,795.90.
Still, market watchers say, the index remained on track for a roughly 3% gain on the holiday-shortened week, helped by oil's first weekly price gains this month as producers talk of a coordinated plan to freeze output levels.
The Canadian dollar dropped 0.38 cents to 72.49 cents U.S.
Energy stocks listed lower, including Canadian Natural Resources, which fell 2.6% to $28.35, and Suncor Energy, which lost 0.6% to $32.79.
Pipeliner Enbridge fell 1.9% to $43.02, despite reporting higher-than-expected profit.
On the economic front, Statistics Canada reported that the consumer price index rose 2.0% in the 12 months to January, after increasing 1.6% in December. On a seasonally adjusted monthly basis, the Consumer Price Index increased 0.2% in January, following a 0.1% increase in December.
Moreover, retail sales fell 2.2% in December to $43.2 billion, following a 1.7% rise in November. Declines were widespread as lower sales were reported in 10 of 11 sub-sectors, representing 97% of retail trade.
The agency reported that later snowfalls and unseasonably warm weather in many parts of Canada may have contributed to lower seasonal purchases.
ON BAYSTREET
The TSX Venture Exchange gained 3.9 points to 529.78
All but three of the 13 TSX subgroups were lower midday, as health-care ducked 2.5%, energy lost 1.9%, and financials doffed 1.2%.
The three gainers were telecoms, up 0.6%, metals and mining, up 0.5%, and real-estate, nicking up 0.1%.
ON WALLSTREET
U.S. stocks traded in a range Friday, continuing to consolidate after solid gains earlier in the week, as oil fell back below $30.00 a barrel.
The Dow Jones industrial average was negative 47.22 points to 16,366.21. Chevron and Boeing were the greatest weights on the Dow.
The S&P 500 slid 2.55 points to 1,915.28. Energy held more than 1% lower as the greatest decliner.
The NASDAQ index regained 16.56 points to 4,504.10, helped by gains in Applied Materials, Facebook and shares of Alphabet, Google's parent company.
In economic news, the consumer price index showed a 0.3% rise ex-food and energy in January. The headline inflation figure was unchanged from the previous month. Year-over-year, the core CPI moved up 2.2%, the largest rise since June 2012
Prices for the 10-year Treasury lost ground, raising yields to 1.76% from Thursday’s 1.74%. Treasury prices and yields move in opposite directions.
Oil prices lost $1.25 a barrel to $29.52 U.S.
Gold prices regained $1.08 to $1,231.95 U.S. an ounce.
