Canada’s main stock index 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 fell 29.92 points to kick off the week’s last session at 15,592.48.
The Canadian dollar deleted 0.03 cents at 73.70 cents U.S.
Canada’s 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.
Among utilities, Brookfield Infrastructure Partners shed 66 cents, or 1.2%, to $55.13.
In the real-estate sector, Real Matters dipped 59 cents, or 2.1%, to $27.40.
In financials, Genworth MIC slipped 52 cents, or 1.6%, to $32.41.
Tech stocks tried to even things out a bit, with Enghouse Systems acquiring $1.56, or 2.1%, to $76.52. In communications, Cogeco Communications sprinted $5.26, or 5.4%, to $103.07.
In consumer discretionary stocks, BRP Inc. added $1.15, or 2%, to $58.49.
Oil prices declined 63 cents at $40.02 U.S. a barrel.
Gold prices slipped $4.60 to $1,785.40.
The TSX Venture Exchange gained 2.06 points to 629.57.
Eight of the 12 TSX subgroups were lower in the first hour, as utilities sank 0.6%, while real-estate dropped 0.5%, and financials fell 0.3%.
The four gainers were led by information technology, communications and consumer discretionary stocks, each nicking up 0.1%.
Markets are shuttered Friday for the Fourth of July holiday.
U.S. Markets Closed for Fourth of July