(MENAFN- ProactiveInvestors) Canadian shares retreated as investors assessed weaker corporate results from to Potash Corp. The Standard & Poor’s/TSX Composite Index (TSE:OSPTX) fell 0.4 percent to 15284 at 12:27 p.m. in Toronto. Two shares declined for every issue that advanced as nine out of ten share groups were in the negative territory.
The energy sector the main index's second most heavily weighted group surrendered 0.3 percent even as oil futures edged higher.
Energy (TSE:SU) Canada's largest oil sands producer slipped 1 percent to C$39.49 after reporting a first-quarter loss and a 90 percent decline in operating profit as a recent slump in global oil prices offset the company’s effort to cut costs and boost production.
() an integrated energy company fell 0.4 percent to C$53.53 after posting a 55 percent drop in first-quarter earnings hurt by slumping global crude-oil prices.
June crude tacked on 0.8 percent to trade at $59.08 a barrel on the New York Mercantile Exchange after tapping a high of $59.40.
The materials sub-index which includes mining shares slipped 1.5 percent as gold found little support from a weaker dollar.
(TSE:G) Canada’s largest gold miner by market value sank 6.1 percent to C$22.74 after swinging to a loss in the first quarter and missed analyst expectations.
(TSE:ABX) the second-largest eased back 2.9 percent to C$15.75.
Potash Corp. of Saskatchewan (TSE:POT) fell 1.1 percent to C$39.34 after reporting a lower-than-expected profit and cutting its earnings guidance for the year.
Gold for June delivery on Comex sank 2.7 percent to $1177.40 an ounce leaving the metal on track for monthly loss of 0.4 percent.
Financials lost 0.3 percent. () which has the heaviest weighting in the index gave up 0.5 percent to C$80.52.
Toronto-Dominion Bank (TSE:TD) the second-largest bank by market value sagged 0.4 percent to C$55.87.
(TSE:) Canada’s second-largest wireless carrier slipped 0.3 percent to C$53.97 after posting a 13 percent decline in first-quarter earnings weakened in part by a one-time litigation-related charge.
The junior () fell 0.2 percent to 695.68 at 12:36 p.m. in Toronto.
In economic news Canada’s gross domestic product was unchanged in February compared with economists’ forecast for a contraction as a plunge in oil rigging and drilling was offset by gains in consumer spending.
In the U.S. market shares traded lower today as investors weighed the latest corporate earnings. The S&P 500 (INDEXSP:.INX) skidded 0.3 percent to 2100 at 11:41 a.m. in New York. The 30-company Dow Jones Industrial Average (INDEXDJX:.DJI) slipped 0.3 percent to 17985 while the tech-heavy Nasdaq Composite (INDEXNASDAQ:.IXIC) dropped 0.7 percent to 4989. Most followed shares included Glu Mobile Baidu Colgate-Palmolive Avon Cable Marriott Williams and .
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