Equities in Canada’s biggest market weakened a third straight day, with energy producers sinking with the price of oil as investors braced for a series of key events later this month that could renew turbulence in financial markets.
The S&P/TSX Composite stumbled 202.48 points, or 1.4%, to close Friday and the week at 14,037.54, its steepest drop since February.
While the benchmark touched the highest level in 10 months earlier this week, it has fallen 2.3% in just the last three days.
The Canadian dollar fell 0.18 cents to 78.43 cents U.S.
Energy producers led declines Friday, as all 10 industries in the Canadian equity benchmark retreated.
Encana tumbled 77 cents, or nearly 7%, to $10.27, and Baytex Energy lost 82 cents, or 9.6%, to $7.71, as a rising U.S. dollar countered declining crude stockpiles and disruptions from Canada to Nigeria.
Cenovus Energy is in the process of restarting production at the Pelican Lake oilfield after shutting operations on Wednesday. Cenovus lost 49 cents, or 2.5%, to $18.79.
Transcontinental Inc., a Montreal-based commercial printer of flyers, plunged $1.89, or 9.9% to $17.28, after posting second-quarter profit that fell short of analysts’ estimates.
Metals and mining firms also had a rough go of it, as First Quantum Minerals rumbled 55 cents, or 6%, lower to $8.63, and Teck Resources plunged 62 cents, or 4.1%, to $14.54.
Among information technology concerns, BlackBerry went south 42 cents, or 4.5% to $8.92.
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 lost 4.58 points to 715.59
All but one of the 13 TSX subgroups were lower on the session, as energy backpedaled 3.8%, metals and mining slid 3.3%, and information technology faded 1.8%.
Only real-estate held out against the negative tide, tacking on only 0.1%.
ON WALLSTREET
Stocks south of the border closed lower Friday, weighed by renewed global growth concerns from record lows in benchmark yields and concerns ahead of the U.K. vote on whether to leave the European Union.
The Dow Jones Industrials gave back 119.85 points to 17,865.34, with Caterpillar leading declines and Verizon leading gainers.
The S&P 500 lost 19.41 points at 2,096.07, with energy and financials leading eight sectors lower and telecoms and consumer staples advancing.
The NASDAQ retreated 64.07 points, or 1.3%, to 4,894.55
U.S. stocks fell to session lows Friday after a new "Brexit" poll showed a large increase in the "leave" camp over the "remain" camp.
The U.K. is set to vote June 23, the week after the June Fed meeting, on whether to leave the European Union.
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 1.64% from Thursday’s 1.68%. Treasury prices and yields move in opposite directions.
Oil prices shed $1.60 a barrel to $48.96 U.S.
Gold prices picked up $5.20 to $1,277.90 U.S. an ounce.
