(MENAFN- ProactiveInvestors) Canadian shares retreated as a decline in energy producers and banks outstripped gains among miners. The benchmark Standard & Poor’s/TSX Composite Index (TSE:OSPTX) fell 0.2 percent to 14638.92 at 12:25 p.m. in Toronto. Five shares declined for every two stocks that advanced as 7 out of 10 main industries were down. The 250-company gauge has gained 7.7 percent this year.
The energy sector the main index's second most heavily weighted group lost 1.7 percent as oil Canada’s largest export traded near the lowest since 2009. Energy (TSE:SU) Canada's largest oil sands producer sagged 1.4 percent to C$36.87. () the country's second-largest oil and gas company gave up 1.2 percent to C$35.73.
West Texas Intermediate for February delivery was down 8 cents at $53.53 at 12:05 p.m. on the New York Mercantile Exchange after earlier falling as far as $52.70 the lowest since May 2009. Oil fell amid speculation that U.S. crude inventories will stay at the highest for the time of year in at least three decades.
The financials group which accounts for approximately 36 percent of the main measure more than any other group fell 0.7 percent. () which has the heaviest weighting in the index eased back 0.2 percent to C$80.67 paring this year’s gains to 12.9 percent. Toronto-Dominion Bank (TSE:TD) the second-largest bank by market value lost 0.5 percent to C$55.40.
The materials sub-index which includes mining shares gained 2.3 percent as gold erased its 2014 losses. (TSE:ABX) rose 4.4 percent to C$12.72 and (TSE:G) jumped 5.7 percent.
Gold futures for February delivery rose 2 percent to $1205.40 an ounce at 10:21 a.m. on the Comex in New York.
The junior () rose 0.5 percent to 684.73 at 12:38 p.m. in Toronto.
In the U.S. market shares dropped trimming a seventh straight December gain for the Standard & Poor’s 500 Index (INDEXSP:.INX). The gauge slid 0.3 percent at 11:55 a.m. in New York. The 30-company Dow Jones Industrial Average (INDEXDJX:.DJI) and the tech-heavy Nasdaq Composite (INDEXNASDAQ:.IXIC) each fell 0.3 percent. Most followed shares included Medbox Jinpan Toyota Fiat Chrysler Computer Sciences and NeuroDerm.
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