(RTTNews.com) - The Canadian stock market has been fluctuating between small gains and losses since the open of trade Friday. Traders have had little reaction to the Canadian retail sales and inflation reports issues this morning. Gold and energy stocks are struggling in early trade due to falling commodity prices.
Markets in Europe are turning in another lackluster performance Friday. The markets are mixed, but remain little changed overall.
Markets on Wall Street are drifting lower in early trade Friday. Traders may be reluctant to make significant moves amid uncertainty about the near-term outlook for the markets.
The benchmark S&P/TSX Composite Index is down 1.22 points or 0.01 percent at 15,453.20.
On Thursday, the index closed down 75.55 points or 0.49 percent, at 15,454.42. The index scaled an intraday high of 15,559.37 and a low of 15,434.37.
The Energy Index is falling 1.26 percent. Crude oil prices are falling Friday after President Donald Trump blasted OPEC for trying to artificially boost prices.
"Looks like OPEC is at it again," he wrote. "With record amounts of Oil all over the place, including the fully loaded ships at sea, Oil prices are artificially Very High! No good and will not be accepted!"
Crescent Point Energy (CPG.TO) is falling 1.49 percent and Suncor Energy (SU.TO) is down 0.19 percent. Husky Energy (HSE.TO) is losing 1.64 percent and Encana (ECA.TO) is surrendering 1.12 percent. Cenovus Energy (CVE.TO) is declining 2.32 percent and Canadian Natural Resources (CNQ.TO) is losing 2.13 percent. Imperial Oil (IMO.TO) is lower by 0.29 percent and Enbridge (ENB.TO) is decreasing 1.09 percent.
The Gold Index is decreasing 1.04 percent. Gold prices are falling Friday morning, extending weakness from the previous session.
Barrick Gold (ABX.TO) is declining 1.66 percent and IAMGOLD (IMG.TO) is decreasing 2.12 percent. Eldorado Gold (ELD.TO) is losing 2.42 percent and Goldcorp (G.TO) is surrendering 0.55 percent. Kinross Gold (K.TO) is weakening by 0.82 percent and B2Gold (BTO.TO) is down 2.43 percent. Yamana Gold (YRI.TO) is down 1.47 percent.
Centerra Gold Inc. (CG.TO) announced today that it has agreed with the Government of the Kyrgyz Republic to extend the First Longstop Date. The government of Prime Minister Sapar Isakov was dismissed by the President of the Kyrgyz Republic yesterday following a vote of no confidence in the Kyrgyz Republic Parliament. Shares are falling 0.76 percent.
The Capped Materials Index is down 0.73 percent. Agnico Eagle Mines (AEM.TO) is falling 0.82 percent and Franco-Nevada (FNV.TO) is lower by 1.55 percent. Nutrien (NTR.TO) is losing 0.41 percent.
The Capped Healthcare Index is lower by 0.44 percent. Valeant Pharmaceuticals International (VRX.TO) is weakening by 1.09 percent and Extendicare (EXE.TO) is losing 1.06 percent. ProMetic Life Sciences (PLI.TO) is falling 2.41 percent.
The Capped Telecommunication Services Index is up 2.85 percent. TELUS (T.TO) is gaining 1.36 percent and BCE (BCE.TO) is higher by 1.43 percent.
Rogers Communications (RCI-B.TO) is surging 5.63 percent after it reported better than expected first quarter earnings.
The Capped Information Technology Index is gaining 0.49 percent. Sierra Wireless (SW.TO) is rising 0.09 percent and BlackBerry (BB.TO) is advancing 0.52 percent. Constellation Software (CSU.TO) is climbing 0.16 percent and Descartes Systems Group (DSG.TO) is up 0.77 percent.
The heavyweight Financial Index is increasing 0.44 percent. Bank of Montreal (BMO.TO) is gaining 0.65 percent and Royal Bank of Canada (RY.TO) is advancing 0.55 percent. National Bank of Canada (NA.TO) is up 0.15 percent and Toronto-Dominion Bank (TD.TO) is climbing 0.73 percent. Bank of Nova Scotia (BNS.TO) is rising 0.58 percent and Canadian Imperial Bank of Commerce (CM.TO) up 0.04 percent.
Canadian Pacific (CP.TO) has started an operational shutdown due to a looming strike that is scheduled for the weekend. The stock is down 0.57 percent.
On the economic front, data from Statistics Canada showed that inflation slowed to 0.1 percent on month in March from 0.2 percent a month ago. Economists had forecast CPI to increase to 0.4 percent.
Core inflation came in at 0.2 percent on a monthly basis. This was unchanged from the February rate, which was originally reported as a 0.3 percent gain.
Separate data showed that retail sales grew in line with forecasts in February, led by higher sales at new car dealers and general merchandise stores.
Sales increased 0.4 percent in February to $49.8 billion. This matched expectations and follows a revised 0.1 percent rise in the previous month.
Core retail sales was flat on month, compared to forecasts for a 0.4 percent gain. The January rate was revised up to 1.0 percent.
Germany's producer price inflation accelerated for the first time in six months in March, though marginally, figures from Destatis showed Friday. Producer price inflation rose to 1.9 percent in March from February's 14-month low of 1.8 percent. The rate was forecast to increase to 2.0 percent.
In commodities, crude oil futures for May delivery are down 0.55 or 0.80 percent at $67.78 a barrel.
Natural gas for May is up 0.049 or 1.84 percent at $2.709 per million btu.
Gold futures for June are down 9.60 or 0.71 percent at $1,339.20 an ounce.
Silver for May is down 0.084 or 0.49 percent at $17.155 an ounce.
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