(MENAFN- ProactiveInvestors) Canadian shares retreated led by the three major heavyweight segments as investors continue to digest Friday’s U.S. employment data and as oil prices drop.
The Standard & Poor’s/TSX Composite Index (TSE:OSPTX) fell 0.2 percent to 15143 at 12:39 p.m. in Toronto. Two shares declined for every stock that advanced as seven out of ten share groups were in the negative territory.
Data on Friday showed growth in U.S. employment rebounded in April signaling the economy was picking up after a sluggish first quarter. Investors have been analyzing the data to determine when the might raise interest rates next with many still betting on a hike sometime later this year. Sentiment in Canada is often influenced by news out of the United States Canada's largest trading partner.
The energy sector the main index's second most heavily weighted group tumbled 1.1 percent as oil Canada’s largest export as oil futures held ground below $60 a barrel.
Energy (TSE:SU) Canada's largest oil sands producer dropped 0.2 percent to C$36.70. Limited () Canada’s second-largest energy producer skidded 0.3 percent to C$38.11.
Emera () an energy and services company rose 2.3 percent to C$42.02 after saying its first-quarter earnings fell to C$1.10 a share from C$1.43 a year earlier and revenue fell about 14 percent. Adjusted earnings improved to C$1.18 a share from C$1.03 and came in ahead of analyst expectations for 79 Canadian cents.
() gained 2.8 percent to C$4.37 after saying first-quarter earnings fell to C$0.09 per share from C$0.18 while revenue held steady at C$44.7 million.
June crude was last down 0.2 percent at $59.27 a barrel on the New York Mercantile Exchange while Brent crude on London’s ICE Futures exchange was off 0.9 percent at $64.80 a barrel.
The materials sub-index which includes mining shares dropped 0.2 percent as gold futures held ground near $1190 an ounce. (TSE:G) Canada’s largest gold miner by market value slumped 1.1 percent to $22.42. (TSE:ABX) the second-largest added 0.5 percent to C$15.46.
Gold for June delivery on Comex fell 10 cents to $1188.80 an ounce.
Financials the index's most heavily weighted sector slipped 0.2 percent. () which has the heaviest weighting in the index gave up 0.2 percent to C$78.97. Toronto-Dominion Bank (TSE:TD) the second-largest bank by market value skidded 0.2 percent to C$55.49.
The junior () rose 0.3 percent to $692.90 at 12:38 p.m. in Toronto.
In the U.S. market shares seesawed as a drop in energy shares overshadowed gains in small-cap companies. The S&P 500 (INDEXSP:.INX) slid 0.1 percent to 2113 at 11:40 a.m. in New York. The 30-company Dow Jones Industrial Average (INDEXDJX:.DJI) slipped 0.1 percent to 18166 and the tech-heavy Nasdaq Composite (INDEXNASDAQ:.IXIC) added 0.1 percent to 5007. Most followed shares included Rosetta Resources Zulily Actavis Salesforce Sotheby’s Dean Foods Wayfair Hilton Worldwide United Continental
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