Stocks in Toronto were on the downside Thursday, amid uncertainty created by the European Central Bank’s lower growth projections.
The S&P/TSX Composite Index skidded 35.56 points to conclude Thursday at 16,056.51
The Canadian dollar inched backward 0.08 cents at 74.31 cents U.S.
Health-care weighed the heaviest, as Canopy Growth retreated $1.10, or 1.8%, to $60.81, while Aurora Cannabis slumped 38 cents, or 3.6%, to $10.21.
In consumer discretionaries, Magna International backpedaled $1.58, or 2.3%, to $67.35, while Canadian Tire lost $1.73, or 1.2%, to $145.94.
Tech stocks also took it on the chin, with Shopify losing 70 cents to $251.58, while BlackBerry eased nine cents to $12.14.
Golds had the best of it, among the gaining subgroups, as Barrick Gold climbed 30 cents, or 1.8%, to $16.95, while Agnico Eagle Mines surged $1.16, or 2.1%, to $56.99.
Nuvista Energy enjoyed a 22-cent gain, or 5%, to $4.60, while Canadian Natural Resources gained 95 cents, or 2.7%, to $36.78,
In utilities, Hydro One tacked on four cents to $20.47.
On the economic calendar, Statistics Canada reported Canadian municipalities issued $8.4 billion worth of building permits in January, down 5.5% from the record high in December.
The agency says lower construction intentions for commercial buildings were responsible for the national decline.
ON BAYSTREET
The TSX Venture Exchange dropped 4.35 points to 615.21
Six of the 12 TSX subgroups were lower by the closing bell, as health-care tumbled 1.9%, consumer discretionary lopped off 1.7%, and information technology sank 0.7%.
The five gainers were led by gold, up 1.2%, while energy and utilities each poked up 0.4%. Communications were unchanged by the close.
ON WALLSTREET
Stocks fell on Thursday after the European Central Bank slashed its economic growth forecast for 2019 and announced a new round of stimulus to help banks in the region, stoking worries over the global economy.
The Dow Jones Industrial Average shed 200.23 points to 25,473.23, as shares of Caterpillar and Walgreens Boots Alliance lagged.
The S&P 500 dipped 22.52 points to 2,748.93, led by declines in the financials and consumer discretionary sectors.
The NASDAQ Composite stumbled 84.46 points, or 1.1%, to 7,421.46.
The indexes posted their fourth consecutive loss. Stocks are still up sharply for the year despite Thursday's losses. The S&P 500 and Dow are both up more than 9% this year while the NASDAQ has risen about 11.9%.
Bank of America, Goldman Sachs, Morgan Stanley and Citigroup all fell around 1%.
ECB President Mario Draghi said the central bank cut its growth estimate to 1.1%, down from a 1.7% expansion forecast released in December.
Prices for the benchmark 10-year U.S. Treasury grew sharply, dropping yields to 2.64% from Wednesday’s 2.69%. Treasury prices and yields move in opposite directions.
Oil prices picked up 31 cents to $56.53 U.S. a barrel.
Gold prices dipped $1.50 to $1,286.10 U.S. an ounce.
