The Canadian market ended marginally down on Friday after moving in a very narrow range below the flat line, as investors remained reluctant to pick up stocks amid a lack of significant triggers.
The benchmark S&P/TSX Composite Index ended down by 26.49 points or 0.12% at 21,554.86. The index moved between 21,499.57 and 21,586.39. The index recorded a loss of 0.39% for the week, declining for a fifth straight week.
Energy and materials stocks fell on weak commodity prices. The Energy Capped Index and the Materials Capped Index dropped by 1.38% and 1.32%, respectively.
Technology stocks were in demand. The Information Technology Capped Index climbed 1.06%. A few stocks from consumer staples sector moved up as well.
Prairiesky Royalty (PSK.TO) ended down 4.7%. Aritzia Inc (ATZ.TO), Tourmaline Oil Corp (TOU.TO), TerraVest Industries (TVK.TO), Wheaton Precious Metals (WPM.TO) and Precision Drilling Corporation (PD.TO) lost 1.4 to 3.2%.
Quebecor Inc (QBR.TO) soared 9.3%. ATCO Ltd (ACO.Y.TO) gained 5%, and Bombardier Inc (BBD.B.TO) climbed 4%. Shopify Inc (SHOP.TO), Stantec Inc (STN.TO, Constellation Software (CSU.TO), Onex Corporation (ONEX.TO), WSP Global (WSP.TO), Intact Financial Corporation (IFC.TO), FirstService Corporation (FSV.TO) and Dollarama Inc (DOL.TO) advanced 1 to 2%.
On the economic front, data from Statistics Canada said retail sales in Canada are projected to have dropped by 0.6% in May, according to a flash estimate.
The data showed retail sales increased 0.7% in April, following a downwardly revised 0.8% fall in March.
Another data from Statistics Canada said producer prices in Canada increased 1.8% in May over the same month in the previous year.