By Rebecca L. McClay, MarketWatch
Canadian stocks close lower
SAN FRANCISCO (MarketWatch) -- Canadian stocks slipped Friday, weighed down by disappointing jobs data from the U.S.
As trading in Toronto resumed after Thursday's Canada Day holiday, stocks reacted to a smaller-than-expected rise in June private-sector U.S. payrolls. Total nonfarm payroll employment fell by 125,000 in June, and the unemployment rate dipped to 9.5% from 9.7% due to fewer people seeking work, according to the U.S. Department of Labor.
The S&P/TSX Composite Index (CA:$ISPTX 11,196, -98.36, -0.87%) dropped 0.9%, mirroring U.S. stock trends. The Dow Jones Industrial Average (DJIA 9,686, -46.05, -0.47%) , the S&P 500 (SPX 1,023, -4.79, -0.47%) and the Nasdaq Composite (COMP 2,092, -9.57, -0.46%) all closed lower about 0.5%.
Gold for August delivery settled up $1, or 0.4%, to $1,207.70. Gold was down 4% for the week and Canadian gold stocks felt the weight. Shares of Barrick Gold Corp. (ABX 43.24, +0.14, +0.32%) , Canada's largest gold producer. Sunk 4.9% and shares of Goldcorp Inc. (CA:G 43.95, -2.66, -5.71%) , the second largest gold producer, closed off 5.7%. For more on gold trends, see Metals Stocks.
The S&P/TSX Capped Diversified Metals and Mining Index (CA:TTMN 795.88, +1.85, +0.23%) gained 0.2%. Shares of main advancer Ivanhoe Mines (CA:IVN 14.20, +0.41, +2.97%) advanced 3%.
Crude-oil futures lost 1.1% Friday, the lackluster end of a bruising week during which prices dropped 7.5%. Crude for August delivery settled 81 cents lower at $72.14 a barrel. The S&P/TSX Capped Energy Index (CA:TTEN 270.98, -0.74, -0.27%) closed down 0.3%. For more on oil trends, see Futures Movers.
In the financials sector, The S&P/TSX Capped Financials Index (CA:TTFS 166.95, -0.32, -0.19%) was down 0.2%, with main decliner Dundee Corp. (CA:DC.A 11.95, -0.22, -1.81%) down 1.8%.
The Canadian dollar traded slightly stronger against the U.S. dollar today, with one greenback buying C$1.0627.
