Bank stocks, dismal retail sales data drive TSX lower
- The energy sector dropped 0.8% as a new wave of coronavirus infections across Europe triggered fresh lockdowns, while the financials sector slipped 0.7%.
- Toronto Stock Exchange's S&P/TSX composite index was down 65.17 points, or 0.35%, at 18,771.3.
Canada's main stock index fell on Friday, pressured by weakness in energy and bank stocks, while data showed domestic retail sales fell in January further denting sentiment.
The energy sector dropped 0.8% as a new wave of coronavirus infections across Europe triggered fresh lockdowns, while the financials sector slipped 0.7%.
Domestic retail sales fell 1.1% to C$52.55 billion ($42.07 billion) in January compared with the previous month, as provincial governments began re-introducing health restrictions to combat a resurgence in coronavirus cases, Statistics Canada said.
At 9:41 a.m. ET (13:41 GMT), the Toronto Stock Exchange's S&P/TSX composite index was down 65.17 points, or 0.35%, at 18,771.3.
Miner Teck Resources Ltd fell 3.4%, the most on the TSX, followed by fuel-cell products maker Ballard Power Systems Inc, down 3.1%.
On the TSX, 85 issues advanced, while 127 issues declined in a 1.49-to-1 ratio favoring decliners, with 173.81 million shares traded.
The largest percentage gainers on the TSX were gold miners Kirkland Lake Gold Ltd and NovaGold Resources Inc. , both up 2.4%.
The most heavily traded shares by volume were Toronto-Dominion Bank, Enbridge Inc, and Canadian Natural Resources Limited.
The TSX posted no new 52-week high or low.
Across Canadian issues, there were 15 new 52-week highs and two new lows, with total volume of 197.52 million shares.
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