Canada's main stock index fell in early trade on Friday as energy stocks retreated with oil prices and global equity markets broadly moved lower.
The S&P/TSX Composite stumbled 120.31 points to greet noon at 14,119.71, on track for a 0.7%decline over the week.
The Canadian dollar eked up 0.02 cents to 78.63 cents U.S.
Canadian Natural Resources declined 2.4% to $37.165. The company and Cenovus Energy both said they had restarted operations at oil sands facilities in Alberta on Thursday after a wildfire threat dissipated.
Suncor Energy Inc fell 1.2% to $34.76.
The financials group slipped, with Royal Bank of Canada down 1.3% to $78.35 and Bank of Nova Scotia off 1.4% to $65.39.
Gold miners were among the biggest beneficiaries of a lower overall market for a second straight session, with the most influential gainers on the index including Barrick Gold, up 3.8% to $25.86, and Goldcorp, which advanced 1.1% to $24.06.
On the economic beat, Statistics Canada reported that the economy created 14,000 jobs during May. With fewer people searching for work, the unemployment rate declined 0.2 percentage points to 6.9%, the lowest rate since last July.
ON BAYSTREET
The TSX Venture Exchange gained 1.59 points to 721.76
All but one of the 13 TSX subgroups were lower at noon, as metals and mining slid 3.2%, energy stalled 2.7%, and consumer staples faded 1.6%.
Only real-estate held out against the negative tide, tacking on 0.3%.
ON WALLSTREET
U.S. stocks traded lower Friday, as gains in telecommunications offset pressure from further pullback in oil prices and declines in benchmark global yields.
The Dow Jones Industrials gave back 100.74 points, to 17,884.75. Goldman Sachs had the greatest negative impact on the index, while Verizon had the greatest positive impact.
The S&P 500 lost 17.44 points at 2,098.04, with telecoms trading more than 1% higher. Energy and financials traded nearly 1% lower or more in late-morning trade to lead decliners.
The NASDAQ retreated 54 points, or 1.1%, to 4,904.61
In economic news, the preliminary read on consumer sentiment for June was 94.3, a touch lower than May's final read of 94.7.
Prices for the 10-year Treasury gained, lowering yields to 1.65% from Thursday’s 1.68%. Treasury prices and yields move in opposite directions.
Oil prices shed $1.20 a barrel to $49.36 U.S.
Gold prices picked up $1.30 to $1,274.00 U.S. an ounce.
