Stocks in Toronto failed to catch a whiff of the positive energy emitted from south of the border Thursday, as gold and health-care issues sold off somewhat.
The S&P/TSX Composite shed 41.04 points to conclude Thursday at 13,882.41.
The Canadian dollar recovered somewhat, but still fell 0.28 cents to 77.17 cents U.S.
Gold stocks took something of a pounding by day’s end, weighed most by Yamana Gold, skidding 17 cents, or 2.6%, to $6.39, while Kinross Gold collapsed 28 cents, or 4.1%, to $6.48.
Health-care stocks also had a rough day as Valeant Pharmaceuticals dipped $1.56, or 5.1%, to $29.05, while Concordia Healthcare hesitated 51 cents, or 1.7%, to $29.17.
Telecoms, however, did finish in the green, as BCE moved up 21 cents to $59.25.
The Bank of Canada said economic growth likely stalled in this year’s second quarter due to the impact of Alberta wildfires, while slumping investment spending plans in the energy sector and the possibility that households will suddenly curb their spending due to high debt levels also present risks.
Economically speaking, Statistics Canada reported foreign investment in Canadian securities amounted to $15.5 billion in April. Meanwhile, Canadian investors acquired $4.7 billion of foreign securities, mainly debt instruments.
ON BAYSTREET
The TSX Venture Exchange slumped 4.6 points to 709.41
Eight of the 13 TSX subgroups were on the negative side, as gold retreated 1.6%, health-care demurred 1.4%, and materials were 1.2% to the bad
The five gainers were led by telecoms, up 0.9%, utilities, up 0.3%, and financials, up 0.2%.
ON WALLSTREET
U.S. stocks came well off session lows Thursday as selling in the British pound eased against the U.S. dollar.
The Dow Jones Industrials spiked 92.93 points to close Thursday at 17,733.10, with Merck leading advancers and Nike the greatest laggard.
The index had been down as much as 150 points early in the session.
The S&P 500 regained 6.49 points at 2,077.99. Utilities and telecoms led S&P 500 advancers.
The NASDAQ recouped 9.98 points to 4,844.92, helped by gains in Microsoft and Apple.
The earlier move in sterling coincided with a tweet from U.K. Prime Minister David Cameron stating that all campaigning around the E.U. referendum has been suspended, following news that Labour Member of Parliament Jo Cox died from a shooting earlier in the day.
The pound traded higher against the dollar around $1.421 late Thursday. ET. Gold also pared gains, after earlier extending its rise above $1,300 U.S. an ounce to hit its highest since August 2014.
Economically speaking, The National Association of Home Builders said its survey of builder sentiment rose two points in June to 60.
Prices for the 10-year Treasury gained a bit, lowering yields to 1.57% from Wednesday’s 1.58%. Treasury prices and yields move in opposite directions.
Oil prices dove $1.97 a barrel to $46.04 U.S.
Gold prices moved lower $4.70 to $1,283.60 U.S. an ounce.
