Canada's main stock index slipped on Friday, weighed down by losses among some gold miners, technology, telecom and consumer names which offset gains for energy companies as oil prices rose and Canadian Imperial Bank of Commerce's extended post-earnings rally. The Toronto Stock Exchange's S&P/TSX composite index ended down 28.51 points, or 0.18 percent, at 16,038.97. It lost 0.4 percent over the course of the week.
Seven of the index's 10 main groups were lower, with the technology sector down 1.4 percent and the materials group, which includes precious and base metals miners and fertilizer companies, losing 1.3 percent. BlackBerry Ltd fell 1.7 percent to C$13.69 after agreeing to pay Nokia about $137 million in a contract dispute, while Shopify Inc retreated 3.2 percent to C$130.84. Gold-focused royalty company Franco-Nevada Corp fell 2.6 percent to C$102.34 and other gold miners also lost ground despite the precious metal getting a boost from safe haven flows after an ABC report that added to concerns about US President Donald Trump's exposure to a probe into Russian meddling in last year's election campaign.
The energy group climbed 1.1 percent, as oil prices rose following a deal among major producer to extend an output curb. Canadian Natural Resources Ltd rose 2.3 percent to C$44.75 and Cenovus Energy Inc jumped 4.6 percent to C$12.87. The financials group gained 0.2 percent, with Canadian Imperial Bank of Commerce up 2.6 percent at C$121.20, extending gains as several analyst upgraded their view on the stock following its Thursday earnings beat.
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