Stocks in Canada’s greatest market fell a second day, as energy producers retreated with the price of oil and commodities headed earthward amid uncertainty over the course of central bank policy and global growth.
The S&P/TSX Composite lost 73.08 points to close Thursday at 14,240.02
The Canadian dollar remained negative 0.14 cents to 78.64 cents U.S.
The hardest hit group proved to be the base metals sector, as First Quantum Minerals got bruised 79 cents, or 7.9%, to $9.16, and Teck Resources got tagged 54 cents, or 3.4% to finish at $15.16.
Financial services companies and energy producers led declines, as eight of 10 industries in the Canadian equity benchmark retreated. Royal Bank of Canada lost 47 cents to $79.33, and Toronto-Dominion Bank dropped 38 cents to $57.22.
Crescent Point Energy docked 53 cents, or 2.3%, to $22.48, and Encana Corp. lost 17 cents, or 1.5%, to $11.04. Oil has recovered more than 95% from a 12-year low in February, driving a resurgence in energy stocks this year.
Performance Sports Group Ltd. dropped 39 cents, or 8.8%, its steepest decline in almost two months, to $4.02. The sports equipment maker is now forecasting an adjusted earnings loss for fiscal 2016, after previously predicting profit of 12 to 14 cents a share.
Amongst gold producers, Kinross Gold hiked nine cents, or 1.4%, to $6.70, while rival Goldcorp climbed 40 cents, or 1.7%, to $23.78.
On the economic beat, Statistics Canada reported that its new housing price index moved up 0.3% in April, following a 0.2% increase in March, the largest monthly advance since October and mainly driven by new housing prices in Ontario.
ON BAYSTREET
The TSX Venture Exchange marched ahead 8.8 points, or 1.2%, to 720.17
All but three of the 13 TSX subgroups ended the day negative, with metals and mining skidding 4%, energy issues falling 1.4%, and financials fading 0.7%
The three gainers were gold, ahead 2%, health-care, advancing 0.5%. Materials shares eked up gains of 0.4%.
ON WALLSTREET
U.S. stocks traded slightly lower Thursday, amid a pullback in oil prices from multi-month highs and a decline in global benchmark yields.
The Dow Jones Industrials fought its way back from deep in negative country, and managed to make it 19.86 points below breakeven, to 17,895.19, with Caterpillar leading decliners and Nike the top advancer.
The S&P 500 lost 3.64 points at 2,115.48. Financials briefly traded more than 1% lower as the greatest S&P 500 decliner, with utilities the top gainer.
The NASDAQ retreated 16.03 points to 4,958.62
Traders also noted some pressure on stocks from an overnight Wall Street Journal report that billionaire investor George Soros took part in a series of "big, bearish investments" of purchases in gold and gold mining shares
On the data front, weekly jobless claims fell to a seasonally adjusted 264,000. Wholesale inventories rose 0.6% April.
Prices for the 10-year Treasury rose, lowering yields to 1.68% from Wednesday’s 1.7%. Treasury prices and yields move in opposite directions.
Oil prices dipped 63 cents a barrel to $50.60 U.S.
Gold prices bolted up $10.50 to $1,272.80 U.S. an ounce.
