Canada's main stock index fell in morning trade on Thursday in a broad retreat led by slips among heavyweight energy, gold mining and industrial stocks and a pullback in shares of convenience store operator Alimentation Couche Tard Inc. Bombardier Inc fell 1.6 percent to C$2.41 after the company confirmed its transportation unit plans to cut up to 2,200 jobs in Germany as part of a sweeping savings plan.
The most influential movers on the index included Canadian National Railway Co, which fell 1.8 percent to C$105.67, Barrick Gold, which lost 2.7 percent to C$20.46, and Suncor Energy Inc, down 1 percent at C$38.15. Overall, there were more than 4 decliners for every advancer. Alimentation Couche Tard Inc declined 2.9 percent to C$62.50. The convenience store operator's shares had jumped earlier in the week on news it had won US antitrust approval to buy rival CST Brands Inc.
At 9:52 a.m. ET (1352 GMT), the Toronto Stock Exchange's S&P/TSX composite index was down 120.55 points, or 0.79 percent, at 15,235.03.
The index is expected to edge up to set a new high by the middle of 2018, a Reuters poll found on Thursday, boosted by moderate economic growth offsetting depressed oil prices and worries about the country's housing market. On the day, nine of the index's 10 main groups were in negative territory, with only the healthcare group rising.
Valeant Pharmaceuticals International Inc jumped 5 percent to C$23.52 after it said it had completed the sale of its Dendreon subsidiary and that the US Food and Drug Administration had accepted unit Salix Pharmaceuticals' marketing application for bowel cleanser drug, Plenvu.
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