Equity markets in Canada’s largest centre slipped on Thursday as gold miners retreated following their sharp rally since Britain's vote to leave the European Union.
The S&P/TSX Composite docked 84.99 points to greet noon at 14,146.07
The Canadian dollar moved negative 0.13 cents to 77.04 cents U.S.
The most influential weights included two of the world's largest producers, with Barrick Gold down 4.1% to $28.81 and Goldcorp off 2.4% at $25.46.
Influential gainers on the index included Toronto-Dominion Bank, which rose 0.4% to $55.03, and Manulife Financial, which advanced 1.3% to $17.07.
Seven Generations Energy advanced 8.1% to $27.12 after agreeing to buy some Deep Basin oil and gas properties from Paramount Resources.
Paramount advanced 15.2% to $12.60.
On the economic agenda, Statistics Canada reports that building permits registered $6.8 billion in May, down 1.9% from the previous month. Lower construction intentions for commercial buildings in Quebec and Ontario and single-family homes in Ontario contributed most to the decrease.
Also, Western University reported its IVEY Purchasing Managers Index came in at 51.7 for June, compared to 49.4 in May, and 55.9 for June 2015.
The survey of purchasing managers monitors whether purchases increased, dwindled, or stayed the same during the month. Any reading over 50 suggests expansion.
ON BAYSTREET
The TSX Venture Exchange lost 10.02 points to 747.63
All but one of the 13 subgroups were lower midday, as gold fell 3%, materials were off 2.3%, and energy sagged 0.8%.
Only health-care felt better, and only 0.6% at that.
ON WALLSTREET
U.S. stocks traded narrowly mixed Thursday as investors eyed oil prices ahead of the highly anticipated jobs report due Friday.
The Dow Jones Industrials swooned 11.16 points to 17,907.46, with Chevron and Exxon Mobil having the greatest negative impact.
The S&P 500 was 0.38 points above breakeven to 2,100.03. Utilities and telecoms led decliners, while energy also gave up earlier gains.
The NASDAQ Composite Index improved 13.69 points to 4,872.86
On the earnings front, PepsiCo reported better-than-expected earnings. Barracuda Networks and Helen of Troy are among companies set to report after the bell.
Economically speaking, private sector jobs rose by 172,000 in June, versus consensus expectations of 159,000, according to a report Thursday from ADP and Moody's. Initial jobless claims came in at 254,000 for the week of July 2.
Prices for the 10-year Treasury sagged, raising yields to 1.39% from Wednesday’s 1.37%. Treasury prices and yields move in opposite directions.
Oil prices dwindled $1.42 a barrel to $46.01 U.S.
Gold prices moved lower $9.20 to $1,357.90 U.S. an ounce.
