Equities in Canada’s largest market retreated on Friday as a record surge in COVID-19 cases in the United States raised fears of another round of lockdowns, overshadowing early signs of an economic rebound from the pandemic-driven slump.
The S&P/TSX Composite Index subsided 45.42 points to greet noon at 15,576.98.
The Canadian dollar stepped back 0.08 cents at 73.65 cents U.S.
The Supreme Court removed an obstacle to the expansion of the Trans Mountain oil pipeline on Thursday, dismissing an appeal of a lower court decision that had backed Ottawa’s approval of the project.
The largest percentage gainers on the TSX were Ballard Power Systems, soaring $1.25, or 7.8%, to $17.36, and BRP, climbing 41 cents to $57.75.
Ero Copper fell 84 cents, or 4.4%, the most on the TSX, to $18.16, followed by Real Matters, off 68 cents, or 2.4%, to $27.31.
The United States reported more than 55,000 new COVID-19 cases on Thursday, a new daily global record for the pandemic.
Oil prices declined 41 cents at $40.24 U.S. a barrel.
Gold prices slipped $2.50 to $1,787.50.
ON BAYSTREET
The TSX Venture Exchange gained 1.4 points to 628.91.
Eight of the 12 TSX subgroups were lower midday, health-care and real-estate each settled back 0.9%, and utilities retreated 0.6%.
The four gainers were led by consumer discretionary, consumer staple and energy stocks, each nicking up 0.1%.
ON WALLSTREET
Markets are shuttered Friday for the Fourth of July holiday.
U.S. Markets Closed for Fourth of July